On 1 July 2015, PT Profesional Telekomunikasi Indonesia ("Protelindo") and the shareholders of iForte signed a Share Sale and Purchase Deed over the transfer of shares from the shareholders of iForte to Protelindo, thus iForte becomes a subsidiary of Protelindo which is 100% directly owned.
On the same date, iForte signed the Third Amendment to the Banking Facility Agreement ("Third Amendment") between iForte as the borrower, and PT Bank DBS Indonesia as the lender. In connection with the Third Amendment, Protelindo provided a company guarantee to secure the repayment in an timely manner of the obligations of iForte ("Company Guarantee").
The provision of Company Guarantee as carried out by Protelindo is not a Material Transaction as provided in Article 1.a point 2 of the Bapepam and LK Regulation No. IX.E.2 concerning Material Transactions and Amendment to the Main Business Activities, Attachment to Decision of the Chairman of Bapepam and LK No. Kep-614/BL/2011 dated 28 November 2011, because this Transaction has a value less than 20% of the Company’s equity based on the Consolidated Financial Statement of the Company with Independent Auditor Statement as per 31 December 2014.
Furthermore, based on point 2 letter b number 5 of the Bapepam and LK Regulation No. IX.E.1 concerning Affiliated Transactions and Conflict of Interests of Certain Transactions, Attachment to Decision of the Chairman of Bapepam and LK No. Kep-412/BL/2009 dated 25 November 2009, the Company Guarantee is excluded and shall only be reported to OJK no later than the second business day after the occurrence of the Transaction.
Thus this notification is submitted in order to comply with the provisions of Bapepam and LK Regulation No. X.K.1, Attachment to Decision of the Chairman of Bapepam and LK No. Kep-86/PM/1996 dated 24 January 1996, concerning Disclosure of Information which should be Immediately Announced to the Public and BEI Regulation No. I-E concerning Obligation to Submit Information, Attachment to Decision of the Board of Directors of PT Bursa Efek Jakarta No. Kep-306/BEJ/07-2004 dated 19 July 2004.