Affiliated Transaction between Iforte and GTP

News · Monday, 31 July 2023 04:00

Referring to the Financial Services Authority Regulation Number 42 of 2020 on Affiliated Transactions and Conflicts of Interest Transactions (“POJK 42”), the Company hereby submits affiliate transaction reports in connection with the increase in issued and paid-up capital of PT Global Telekomunikasi Prima (“GTP”) which was paid up by PT Iforte Solusi Infotek (“Iforte”).

GTP and Iforte are consolidated companies which shares are wholly owned (directly and indirectly) by the Company. GTP is a company engaged in reparation of communication equipment and Iforte is a company engaged in fiber optic cables.

Whereas, on July 27, 2023, GTP has increased its issued and paid-up capital in the amount of IDR196,000,000,000, (one hundred ninety six billion Rupiah) which was subscribed by Iforte (“Transaction”).

The transactions referred to above are affiliated transactions as referred to in Article 6 paragraph (1) letter b number 2 of POJK 42, namely transactions among fellow Controlled Companies which, at least 99% (ninety-nine percent) of its shares, are owned by the Publicly-Traded Company concerned.

In accordance with Article 6 paragraph (2) POJK 42, affiliated transactions as mentioned above must be reported to the Financial Services Authority no later than the end of the 2nd (second) business day after the date of the transaction.

The transaction is not (i) a transaction that contains a conflict of interest for the Company as stipulated in POJK 42, nor (ii) a material transaction for the Company as referred to in the Financial Services Authority Regulation Number 17 of 2020 on Material Transactions and Changes in Business Activities.

Thus we submit this report. Thank you for your attention.


Sincerely yours,
PT Sarana Menara Nusantara Tbk