Asset Acquisitions and Disposals::Increase in Shareholding in PT Tunas Ridean Tbk

Issuer & Securities

Issuer/ Manager
JARDINE CYCLE & CARRIAGE LIMITED
Securities
JARDINE CYCLE & CARRIAGE LTD - SG1B51001017 - C07
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
26-Mar-2018 17:34:57
Status
New
Announcement Sub Title
Increase in Shareholding in PT Tunas Ridean Tbk
Announcement Reference
SG180326OTHRP4NT
Submitted By (Co./ Ind. Name)
Jeffery Tan Eng Heong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Jardine Cycle & Carriage Limited ("JC&C") wishes to announce that it has today purchased 41,500,000 shares in PT Tunas Ridean Tbk ("Tunas Ridean") at Rp1,300 per share for a total cash consideration of Rp54 billion (approximately USD3.9 million).

As a result of the purchase, JC&C's shareholding in Tunas Ridean has increased from 44.37% to 45.12%.

The purchase is funded by internal resources, and the consideration was arrived at on a willing-buyer, willing-seller basis having regard to the prevailing market price. As at 26th March 2018, the closing market price of a Tunas Ridean share on the Indonesia Stock Exchange was Rp1,365.

The purchase is not expected to have a material impact on the JC&C Group's net tangible assets or earnings per share. Had the purchase taken place on 1st January 2017, it would not have had a material impact on the JC&C Group's earnings per share for the financial year ended 31st December 2017. Had the purchase taken place on 31st December 2017, it would not have had a material impact on the JC&C Group's net tangible assets per share for the financial year ended 31st December 2017.

None of the Directors or controlling shareholders of JC&C has any interest, direct or indirect, in the transaction (save through their shareholding interests, if any, in JC&C or directorship in Tunas Ridean).