The Company sold and transferred all of the Company’s shares in PT Lautan Solusi Airindo (“LSA”) to PT Pacinesia Chemical Industry (“PCI”), amounting 16,920 shares or equivalent to 99.53% of LSA’s issued shares, with a sales value of IDR 16,900,000,000.-.
This transfer of shares is classified as an affiliated transaction because LSA and PCI are subsidiaries of the Company in which the Company owns more than 99% of the shares in LSA and PCI, thus meeting the criteria for affiliate relationship as referred to in Article 1.1.d OJK Regulation
No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflicts of Interest Transactions (“POJK 42/ 2020”).
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