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Friday, January 1, 2010

Sentul City get rights to do rights issue


as published in Bisnis Indonesia daily newspaper
Wednesday, 30/12/2009 00:00 WIB
Sentul City get rights to do rights issue

JAKARTA: PT Sentul City Tbk -formerly known as Bukit Sentul- plans to have rights issue III/2009 worth IDR1.5 trillion to pay debt of PT Bukit Jonggol Asri was approved by the shareholders.

Corporate Secretary of Sentul City Nesia Tanudjaya said the EGMS held by the company yesterday approved the corporate action which is scheduled next year.

The company uses the fund to purchase 968 million shares of Bukit Jonggol worth IDr1.45 trillion. The stock price of Bukit Jonggol is IDR1,500.

"We got approval from the 99 percent attending shareholders," he said yesterday adding that 54 percent attending the EGMS of the total shareholders.

Based on the prospectus issued by the company, Bukit Jonggol will spend some IDR1.15 trillion from the fund to pay the debt to Madison Global Capital Ltd.

The remaining IDR125 billion is for working capital and IDR169 billion for land acquisition of Kota Mandiri Bukit Jonggol Asri.

Sentul City issued 15.02 billion C series shares with a nominal value of IDR100. The standby buyer is PT Citra Kharisma Komunika, as one of the shareholders.

Independent Commissioner of Sentul City Wisnu Sentausa said Citra Kharisma will spend the fund from its holding firm, Dutch Grow Investment Pte Ltd, to absorb the remaining shares. (Bisnis/21)

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