11 Jan 2024
Reporter: Akhmad Suryahadi | Editor: Tendi Mahadi
KONTAN.CO.ID – JAKARTA. PT Samindo Resources Tbk (MYOH) will conduct a mandatory tender offer for the shares of PT Transkon Jaya Tbk (TRJA).
The tender offer period is 30 days, which runs from January 12 at 9:00 WIB until February 10, 2024 at 15:00 WIB. The payment date falls on February 22, 2024.
As you know, the tender offer is carried out in line with the completion of the acquisition of the majority of TRJA shares by MYOH. On November 30, 2023, MYOH and the seller have signed a sale and purchase agreement for TRJA shares, to purchase 1.11 billion shares which constitute 74% of the issued and paid-up capital.
In connection with the completion of the acquisition transaction, MYOH has become the new controller of TRJA. Therefore, MYOH conducted a mandatory tender offer as required by POJK 9/2018.
The tender offer will be conducted by MYOH for 271.83 million TRJA shares or approximately 18% of all issued and fully paid TRJA shares.
The mandatory tender offer price is set at Rp 281 per share. This price is obtained from the average daily highest price of TRJA shares traded on the IDX for 90 days prior to the date of the negotiation announcement, which is IDR 280.19.
The tender offer price is also higher than TRJA’s acquisition transaction price of IDR 275 per share.
Thus, MYOH spent Rp 307.32 billion to make a tender offer for TRJA shares.
The tender offer will result in MYOH owning a maximum of 1.38 billion shares, which is 92% of TRJA’s issued and paid-up capital.
This is taking into account that the takeover and mandatory tender offer will result in the new controlling shareholding being more than 80%.
PT Mirae Asset Sekuritas Indonesia was appointed as the securities company handling the tender offer of TRJA shares.