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Golden Agri-Resources Ltd Announces Incorporation Of New Subsidiary; Disposal Of Entire Shareholding In Pt Elang Nusantara Air


Thursday, 2 May 2013 06:13am EDT 

Golden Agri-Resources Ltd announced the following: New Subsidiary - Incorporation by the Group of a wholly-owned subsidiary, PT Abadimas Investama (PTAI), a company established in the Republic of Indonesia with an initial paid up share capital of IDR2,911,200,000 (equivalent to approximately USD291,120) comprising 300 shares of a nominal value of IDR9,704,000 each. The principal activities of PTAI are investment holding and business and management consultancy services; Disposal of shares in wholly-owned subsidiary - Disposal by the Group of its entire shareholding comprising 35,000 shares of a nominal value of IDR1,000,000 each in PT Elang Nusantara Air (ENA), a company established in the Republic of Indonesia, for an aggregate consideration of IDR35,000,000,000 (equivalent to approximately USD3,500,000). The said consideration was arrived at based on the nominal value of each share and determined upon a willing buyer and willing seller basis. 

Company Quote

0.52
0.015 +2.97%
22 Sep 2014