Allocating Rp610 Billion, Indika Energy Owned By Conglomerate Agus Lasmono Sudwikatmono Officially Takes Over Nusantara Resources

Illustration. (Photo: Unsplash)

JAKARTA - The coal mining company, PT Indika Energy Tbk through its subsidiary PT Indika Mineral Investindo, has taken over all of the paid-up capital and placed in Nusantara Resources Limited. Indika Energy's Corporate Secretary Adi Pramono said the transaction was carried out through a scheme of agreement mechanism as stipulated in the Australian Corporations Act 2001.

"The completion of this transaction has obtained the approval of the shareholders of Nusantara Resources Limited (NUS) at the general meeting of shareholders on September 22, 2021," Adi said in information disclosure on the Indonesia Stock Exchange (IDX) website, quoted Thursday, October 7.

In addition, the acquisition transaction has also received court approval in Australia on September 24, 2021. According to Adi, Indika Mineral Investindo (IMI) has paid 0.35 Australian dollars per NUS share or a total of 58.81 million Australian dollars (approximately Rp89 billion) to annex 168.04 million NUS shares.

The shares taken over by IMI include shares that will be issued at the time of exercise of the rights. Upon completion of the transaction, NUS will no longer be listed on the Australian Securities Exchange effective at the close of trading on 7 October 2021.

Adi further said that the transaction is a strategic step for the company owned by conglomerate Agus Lasmono Sudwikatmono as one of the company's diversification strategies.

Nusantara Resources Limited is a gold mining company listed on the Australian Stock Exchange which owns 100 percent of Awak Mas mining shares located in South Sulawesi.

The Gold Crew project has an estimated ore reserve of 1.1 million ounces and a resource of 2 million ounces in the province with a total investment of 150 million-200 million US dollars.