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ISDN Holdings Ltd Announces Proposed Acquisition Of 95% Of The Entire Issued And Paid Up Share Capital Of Pt Sdm Bahagia Sejahtera


Friday, 22 Nov 2013 07:50am EST 

ISDN Holdings Ltd announced that the Company has entered into a sale and purchase agreement with Johnny Sudjono Elias and Albert William Lumy to acquire, through its subsidiary Aenergy Holdings Company Limited (Aenergy), 5,225 shares (representing 95% of the entire issued and paid-up share capital) (the Sale Shares) in PT SDM Bahagia Sejahtera (PT SDM) (the Acquisition). The consideration for the Acquisition is USD10,000 (approximately IDR100,000,000) (the Consideration). No valuation was conducted as the parties were able to reach an agreement on the Consideration which was arrived at on willing buyer, willing seller basis, based on PT SDM has not commenced business; and No profits are attributable to the Sale Shares. The Company holds 100% of the share capital of Aenergy through its wholly-owned subsidiary, ISDN Investments Pte Ltd. Following the completion of the Acquisition, the Company will hold 95% of the effective interest in PT SDM. The Company will make the necessary announcements upon the completion of the Acquisition. The Acquisition shall be funded through internal resources. 

Company Quote

0.29
-0.0050 -1.69%
24 Oct 2014