General Announcement::USE OF PROCEEDS FROM EXERCISE OF WARRANTS eW151118

Issuer & Securities

Issuer/ Manager
SINARMAS LAND LIMITED
Securities
SINARMAS LAND LIMITED - SG1E97853881 - A26
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Feb-2016 20:02:14
Status
New
Announcement Sub Title
USE OF PROCEEDS FROM EXERCISE OF WARRANTS eW151118
Announcement Reference
SG160226OTHRMWAZ
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Sinarmas Land Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcement of 22 February 2016 in relation to the acquisition by the Group of additional shares in subsidiary, PT Puradelta Lestari Tbk for a total consideration of IDR1,467,388,650,000 (equivalent to approximately SGD152.6 million) (the "Acquisition") which was fully settled in cash from internal resources.

The Company wishes to announce that the net proceeds of approximately SGD150.7 million from the exercise of 1,507,359,759 Warrants eW151118 ("Warrants Exercise") in November 2015, has been fully utilised towards settlement of the Acquisition consideration.

The above use of net proceeds from the Warrants Exercise is in accordance with the intended use for increasing the Company's land banks when opportunities arise, and for investment and general working capital purposes, as stated in the Company's previous announcement of 11 August 2010.

By Order of the Board
SINARMAS LAND LIMITED

Robin Ng Cheng Jiet
Director
26 February 2016