20 October 2017

PT. MARGA ABHINAYA ABADI, Tbk. EXECUTES EXTRAORDINARY AGM TO DO CAPITAL AND BUSINESS EXPANSION WITH THE ACQUISITION OF SHARE OF PT. ANUGERAH BERKAH MADANI

PT. MARGA ABHINAYA ABADI, Tbk. EXECUTES EXTRAORDINARY AGM TO DO CAPITAL AND BUSINESS EXPANSION WITH THE ACQUISITION OF SHARE OF PT. ANUGERAH BERKAH MADANI

The Ritz-Carlton Pacific Place, Jakarta19 October 2017


PT MARGA ABHINAYA ABADI, Tbk (MABA), a company engaged in development and accommodation, plans to take over (acquisition) PT Anugerah Berkah Madani (ABMA) to support its business activities in the field of development, by way of deposit in the form of shares as many as 98.34% owned by PT Saligading Bersama.

ABMA is a limited liability company engaged in the field of development, including the development of housing (real estate), apartments, offices, shopping centers and the like. MABA`s business activities, hotels as well as restaurants operated by MABA subsidiaries will have significant results when consolidated with business activities in the field of development. 

The consolidation is expected to increase MABA`s value derived from the increase of asset value and growth projection, and can strengthen the source of income, with the combination of income from property assets and recurring income from hotel and restaurant contributions.

ABMA with its three subsidiaries controls ± 48 Ha of land located in South Jakarta, Tangerang City, Bogor and Surabaya. The land will be utilised as a super block project consisting of apartments, office buildings, function hall, commercial areas and hotels ranging from 2 to 5 star. With ABMA`s takeover plan, MABA can utilise the land in the development to expand its business in hospitality and restaurant.

The number of shares planned for issue shall be as many as 15,000,000,000 (fifteen billion) shares to be offered through PMHMETD or 253.16% (two hundred and fifty three point sixteen per cent) of the issued and fully paid capital in MABA, with the price to be determined and announced later in the PMHMETD Prospectus with due regard to the prevailing rules and regulations.

This transaction has also previously been announced in the Disclosure of Information contained in Investor Daily, Company Website and IDX Website on September 12, 2017 and additional Information contained on the same daily as well as Company website and IDX Website on 17 October 2017.

Submission of registration of capital increase is done after obtaining approval from the General Meeting of Shareholders (AGM) which has been executed on this day which its implementation will be executed within the period of not later than 12 (twelve) months after the date of execution of the AGM. The plan to use the proceeds of PMHMETD is 79.20% for the acquisition of 98.34% (ninety eight point thirty four percent) of ABMA shares of PT Saligading Bersama and the remaining funds will be used for working capital.

In connection with the assignment elsewhere then the GMS also decided to dismiss with respect Dinul Ahman from his position as Director of Business Development where the responsibility of business development will be carried out directly by the Director of Operations, and in order to support good corporate governance, the GMS decided to appoint Andhika Anggadewi as Director of Law and Compliance.