JAKARTA - PT PAM Mineral Tbk (NICL) and PT Sumber Mineral Abadi (SAM) agreed to extend the completion of the acquisition of 50% of SAM to May 30, 2025. NICL’s equity was recorded at IDR 745.47 billion as of December 2023.

Suhartono, Corporate Secretary of NICL, said that the company and SAM signed the addendum of two conditional share purchase agreements yesterday (20/6). “The transaction completion period was initially due June 28, 2024, pushed back to May 30, 2025,” he said in the information disclosure quoted Friday (21/6).

In addition, the transaction completion will be using 2024 Financial Report audited by public accountant as reference from the previous 2023 Financial Report.

As is known, NICL and SAM had signed an agreement of 50% share acquisition worth IDR 140 billion on September 12, 2023. Previously, the transaction was projected to be completed on December 29, 2023. (LK/ZH)