We refer to PJBUMI’s announcement dated 20 September, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
1) To provide the list of shareholders of PT. Indodrill Bumi Persada (“IBP”) and their respective shareholdings in percentage;
2) To provide further details on the potential opportunities and contracts in Indonesia and regionally that the Group could secure by participating in the business development of IBP pursuant to the Joint Management Agreement.
3) To provide the tentative timeframe for PJBUMIHES to participate as a shareholder of IBP and to enter into a shareholders agreement.
4) To state the expected size of shareholdings of PJBUMIHES in IBP.
5) Given that the agreement shall be effective upon, amongst others, PJBUMIHES has completed the acquisition of shares in IBP and a new shareholders’ agreement is duly executed, please clarify on the reason(s) that the profit split/sharing between the parties is to be defined by project-to-project basis instead of the parties’ respective shareholdings in IBP.
6) To define the “approved Work Program and Budget” and to clarify on why it is to be funded only by PJBUMIHES and not based on the respective parties’ shareholdings in IBP.
7) To state whether the Agreement is subject to PJBUMI’s shareholders’ approval.
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