JAKARTA - Wukong Technology Partners Limited becomes the new shareholder of PT Remala Abadi Tbk (DATA) after claiming 49% of issued and paid-up capital of total 50,000 shares. Wukong gains claim over the shares through acquisition and debt-to-equity swap.

In the information disclosure quoted Friday (29/11), Richard Kartawijaya, President Director of DATA, said that the shareholders agreed upon Wukong Technology’s position as new shareholder. They also approve the transfer of 196 shares of Iman Taufik to Wukong Technology.

After this transaction, the shareholder structure of DATA will change to DATA with 6,004 shares or 96.83% of total 6,200 shares, totalling IDR 6.2 billion, and Wukong Technology of 196 shares.

In addition, the shareholders agreed upon the raise of authorised capital by IDR 43.8 billion, bringing the capital from IDR 6.2 billion to IDR 50 billion in worth.

Thus, the shareholder structure will then consist of DATA of 25,500 shares or 51%, and Wukong Technology of 24,500 shares or 49%.

The capital increase was carried out under debt conversion worth IDR 6 billion to Wukong Technology, as well as capital investment of IDR 37.8 billion by both DATA and Wukong Technology. (LK/ZH)