JAKARTA – PT Cernindo Gemilang Tbk (CMNT) will take over 78 units of new shares issued by Cemindo Investments Pte Lts (CI), its Singapore-based subsidiary. Said acquisition is based on the conversion notice (CN) signed last week (30/6).
In the information disclosure quoted Tuesday (5/7), F. Bernadeth Conny Ponto, Head of Corporate Secretary and Legal Department of Cernindo Gemilang, said that the finalisation of the conversion notice is a follow up to the shares purchase agreement between CI and WH Investments Pte Ltd dated December 30, 2021 and the receivable transfer of USD 78 million.
“The conversion is worth USD 1 per share. Therefore, CI will issue 78 new shares for CMNT,” Ponto continued.
The transaction value, amounting to USD 78 million, is equivalent to IDR 1.13 trillion, using the currency exchange rate of IDR 14,544 per USD on May 31, 2022. In other words, the transaction is also equal to 28.01% of the company’s total equity in December 2021 of IDR 4.04 trillion. (LK/ZH)