JAKARTA – PT Dian Swastatika Sentosa Tbk (DSSA) updates the agreed stock price for the transfer of Golden Energy and Resources Limited’s (GEAR) shares to Duchess Avenue Pte Ltd. Prior to this, the stock transfer price was set to SGD 0.16 each.

In the information disclosure quoted Monday (20/3), the revision regarding the stock transfer price also includes the change of the stock price of PT Golden Energy Mines Tbk (GEMS) that has been set as the transaction reference to SGD 0.569 or IDR 6,500 per share on March 17, 2023. On said date, SGD 1 is equivalent to IDR 11,432.

The stock price of GEAR that is also set as the reference for the stock transfer to Duchess increases to SGD 0.181 per share, excluding GEMS’s stock price. The transaction is targeted for completion on August 9, 2023.

Until now, DSSA controls 77.49% of GEAR’s shares, while GEAR also controls 62.5% of GEMS and its subsidiaries. After the transaction, DSSA will be left with 48.43% of GEMS and its subsidiaries, while Duchess will claim 77.49% of GEAR’s shares and its subsidiaries’.

Previously, GEAR was said to transfer 2.04 billion shares worth SGD 0.16 per share or USD 235.39 million using the currency exchange rate of SGD 1.3894 per USD. (LK/ZH)