On May 27, 2019, PT Innovate Mas Utama ("IMU") purchased 1,874,827 shares of PT Innovate Mas Indonesia ("IMI") owned by MyRepublic Corporate Pte. Ltd., 98,677 shares of IMI owned by MyRepublic Limited, and 974 shares of PT Eka Mas Republik ("EMR") owned by MyRepublic Corporate Pte. Ltd.
IMU, IMI, and EMR are indirect subsidiaries of the Company.
IMU's share ownership in IMI and EMR after the above transactions becomes 90% and 99.96% respectively.