JAKARTA - PT Elang Mahkota Teknologi Tbk (EMTK) has transferred 80% of shares in PT Sakalaguna Semesta (SS) to PT Harmoni Insan Bersama (HIB) and Kintarwan Kusumo. The transaction value of this divestiture reaches IDR 36.64 billion.

Titi Maria Rusli, Corporate Secretary of Elang Mahkota Teknologi, believes that the divestment of SS's shares offers investment returns to shareholders and is positive for the company. "The proceeds of this stock sale will be used to fund another investment in other more profitable sectors," she explained in the information disclosure quoted Tuesday (4/7).

EMTK and the buying parties are not affiliated with each other. The 80% of SS's shares consist of 80,000 units that are transferred to HIB, or 79.99%, leaving the remaining 0.001% to Kintarwan Kusumo.

The signing of the transaction agreement took place last week (28/6) and will be concluded no later than the end of this year (15/12). SS is engaged in the trading of telecommunication equipment, web portal, and other digital platforms.

This subsidiary of EMTK records total authorised capital of IDR 102 billion, as well as issued and paid-up capital of IDR 66 billion. Along with this divestment, EMTK will lower the value of the authorised capital to IDR 1 billion, as well as the issued and paid-up capital to IDR 1 billion. Its shareholders consist of EMTK 80% and HIB 20%. (LK/ZH)