JAKARTA - PT Gozco Plantations Tbk (GZCO) will receive an additional of 9,610 hecates (Ha) of plantation land and 3,154 Ha of mature plantation from PT Sinar Karya Mandiri (SKM). GZCO received this additional land after its subsidiary PT Suryabumi Argolanggeng (SA) injected capital amounting to IDR 190 billion to SKM yesterday.

In the information disclosure quoted on Tuesday (19/12), the capital injection received by SKM refers to the circular decision of the SKM shareholders yesterday (18/12). The portion of the capital injection is equivalent to 16.15% of GZCO's equity as of December 2022, amounting to IDR 1,15 trillion.

SA's capital injection in SKM was carried out after GZCO ended the agreement to purchae mandatory convertible bond as much as IDR 150 billion with City Peak Development Limited (City), Hong Kong. Every party in this transaction has no affiliation. (LK/LM)