PT Tower Bersama Infrastructure Tbk Holds Extraordinary General Meeting of Shareholders
JAKARTA, 3 March 2015 - PT Tower Bersama Infrastructure, Tbk. ("TBIG" or the “Company”) held its Extraordinary General Meeting of Shareholders (EGMS) on 27 February 2015 at the Le Meridien Hotel in Jakarta. The Meeting was attended by the Company’s shareholders and achieved the required quorum.
Approval for Issuance of New Shares in relation to the Share Exchange Transaction with PT Telkom
In October 2014, the Company entered into an agreement with PT Telkom Indonesia Tbk. ("Telkom") where Telkom will subscribe for new shares in TBIG in exchange for Telkom's shares in PT Dayamitra Telekomunikasi ("Mitratel").
The EGMS approved plans to issue new shares of the Company without Pre-emptive rights amounting to maximum of 479,652,619 new shares or amounting to 10% of the Company’s issued and fully paid-in capital. In addition, shareholders granted approval to transfer 53,294,736 treasury shares which will be priced according to the regulations. Besides the equity stake in TBIG, Telkom will receive a cash consideration of up to Rp 1,739 billion in the event Mitratel achieves certain performance milestones. As such, the Company's Board is authorized to adjust the Company's issued and fully paid-in capital accordingly. The Company’s Articles of Association will also be amended in relation to the issuance of new shares without pre-emptive rights, namely increasing issued and fully paid-in capital.
“These approvals for issuance of new shares as well as for transfer of treasury shares are related to the settlement of the Mitratel transaction. Eventually, when Telkom exercises its option to allow TBIG a 100% ownership in Mitratel, Telkom will own around 13.7% of the Company’s issued and fully paid-in capital.”, said Helmy Yusman Santoso, CFO of TBIG.
About PT Tower Bersama Infrastructure Tbk:
PT Tower Bersama Infrastructure Tbk (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.
For more information, contact:
Corporate Secretary:
Helmy Yusman Santoso – Tower Bersama Group
Phone: (62-21) 571 1946
Email: corporate.secretary@tower-bersama.com
Investor Relations:
Email: investor.relations@tower-bersama.com
