Monday, 20 January 2025 10:00
Negotiation Announcement on Proposed Acquisition of PT Remala Abadi Tbk
In accordance with Article 4 paragraph (1) of Financial Services Authority Regulation No. 9/POJK.04/2018 on Acquisition of Public Companies ("OJK Regulation No. 9/2018"), we hereby announce the proposed acquisition of shares by PT Iforte Solusi Infotek, a limited company established under the laws of the Republic of Indonesia an indirect subsidiary which is controlled by PT Sarana Menara Nusantara Tbk. (”iForte” or "Purchaser") of shares in PT Remala Abadi Tbk. ("Remala") representing approximately 40% (forty percent) of all issued and paid-up capital in Remala, owned by Verah Wahyudi Singgih Wong and Jimmi Anka (controlling shareholders of Remala) (collectively hereinafter shall be referred to as the "Sellers"). iForte and the Sellers signed the Conditional Sale and Purchase Agreement on 23 December 2024 ("CSPA") which will be a basis to further negotiate the Proposed Acquisition (as defined below), whereby after the completion of the shares acquisition transaction, the Purchaser will be the new controller of Remala (proposed acquisition of shares as described above hereinafter shall be referred to as the "Proposed Acquisition").
The purpose of Proposed Acquisition is to develop business and expand business network in order to strengthen the Purchaser's group business position in the digital telecommunications infrastructure sector.
Below is the information of the potential new controller of Remala:
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Name |
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PT Iforte Solusi Infotek |
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Address |
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Lantai 43, Menara BCA, Jl. M.H. Thamrin No.1, Jakarta 10310 |
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Phone |
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(021) 2358 6320 |
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Business Activities |
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(i) Wholesale Trade in Telecommunication Equipment, (ii) Telecommunication Central Construction, (iii) Telecommunication Installation, (iv) Data Communication System Services, (v) Telecommunication Activities with Cables, (vi) Provision of Internet Services, (vii) Internet Service Provider and (viii) Satellite Telecommunications Activities. |
Negotiation in connection with the Proposed Acquisition and the completion of the Proposed Acquisition is carried out directly by the Purchaser with the Sellers. The negotation materials still being discussed include the final value of the Proposed Acquisition and the timeline for completing the Proposed Acquisition as stipulated under the CSPA.
On the date of this announcement, the Purchaser does not own, directly or indirectly, shares issued by Remala.
Following the completion of the Proposed Acquisition, as the new controller of Remala, iForte will conduct a mandatory tender offer required pursuant to OJK Regulation No. 9/2018. The implementation of the Proposed Acquisition and the mandatory tender offer will be carried out in compliance with applicable regulations, including regulations of the capital markets sector.
Jakarta, Januari 20, 2025
Board of Directors
PT Iforte Solusi Infotek