PT Central Omega Resources Tbk ( DKFT ) took over the shares of PT COR Industri Indonesia from its three subsidiaries. The shares acquired by DKFT amounted to 208,948 shares or 32% of the paid-up capital of COR Industri Indonesia.
The shares taken were 195,888 shares from PT Bumi Konawe Abadi, 6,530 shares from PT Mulia Pacific Resources, and 6,530 shares from PT Itamara Nusantara. Both Bumi Konawe Abadi, PT Mulia Pacific Resources, and PT Itamara Nusantara are DKFT subsidiaries engaged in the nickel ore mining business with 100% DKFT share ownership.
COR Industri Indonesia is a processing factory (smelter) company located in North Morowali Regency, Central Sulawesi. The product produced by the Indonesian Industrial COR smelter is ferronickel.
The mining products of Bumi Konawe Abadi, PT Mulia Pacific Resources and PT Itamara Nusantara in the form of nickel ore are used by the Indonesian COR Industries smelter as a raw material to produce ferronickel.
“This share acquisition transaction is within the framework of a corporate strategy to strengthen corporate structures,” wrote DKFT Director Feni Silvani Budiman in an information disclosure on the Indonesia Stock Exchange’s website, Monday (16/1).
The purchase of COR Industri Indonesia’s shares from the three subsidiaries was carried out at a nominal price of IDR 1 million per share. So, the total of the transfer of these shares amounted to IDR 208.95 billion.
Meanwhile, after the acquisition of this share, DKFT took 60% of COR Industri Indonesia’s shares or 391,776 shares. The remaining 261,184 or 40% is owned by PT Macrolink Nickel Development.
Management emphasized that there was no impact on DKFT’s operational activities, law and business conditions with the transfer of these shares. DKFT is also still the controlling shareholder of COR Industri Indonesia.
Image Source: investasi.kontan.co.id