Asset Acquisitions and Disposals::DECREASE IN SHAREHOLDING INTEREST IN SUBSIDIARY, PT PURADELTA LESTARI TBK

Issuer & Securities

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

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
26-Aug-2016 17:11:20
Status
New
Announcement Sub Title
DECREASE IN SHAREHOLDING INTEREST IN SUBSIDIARY, PT PURADELTA LESTARI TBK
Announcement Reference
SG160826OTHR7SB6
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 ("Board") of Sinarmas Land Limited (the "Company" or "SML" and together with its subsidiaries, the "Group") wishes to announce that SML has decreased its effective interest in PT Puradelta Lestari Tbk ("PDL"), from 66.96% to 56.96%, following the placement by AFP International Capital Pte. Ltd., a subsidiary of the Group, of an aggregate of 4,820,000,000 ordinary shares of PDL of par value of IDR100 each ("PDL Shares"), representing approximately 10% of the issued share capital of PDL, for a total consideration of IDR1,205 billion (equivalent to SGD120,500,000) (the "Transaction").

Please see attached for the full announcement.

Attachments