JAKARTA. PT Surya Esa Perkasa Tbk (ESSA) will issue 1.57 billion units of new shares without pre-emptive rights, also known as a private placement.

The number of new shares is equal to 10% of ESSA’s entire issued and paid-up capital. Each share has a face value of IDR 10.

The management of ESSA claimed that the proceeds of the issuance of these new shares will be advanced as an extra investment in PT Panca Amara Utama (PAU). PAU is a company that is directly owned by the company.

Regarding this additional investment in PAU, ESSA had signed the conditional sale and purchase agreement with Chander Vinod Laroya (CVL) and Garibadi Thohir (GT) regarding the acquisition of 233,020 units of PAU’s shares on December 21, 2022. Each PAU’s share bought by the company has a face value of IDR 1 million.

The new shares issued by ESSA in its pricate placement will be taken over by CVL and GT. Thus, their portions in ESSA will rise to 16.38% and 6.40%, respectively.

Meanwhile, the stock portion of other investors will be diluted by up to 9.09%.

ESSA will discuss this private placement plan further in an Extraordinary General Shareholders Meeting on February 8, 2023. Then, the extra capital will be officially channelled on February 17, 2023. (KR/ZH)