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Internal Restructuring and Capital Increase in Subsidiaries

On September 24, 2019, PT DSSP Power Mas Utama (“PMU”) sold 98 shares in PT Daya Anugerah Sejati Utama (“DASU”) to PT DSSE Energi Mas Utama (“EMU”) and 1 share to the Company.

 

On the same day:

  1.  PT Surya Kalimantan Sejati (“SKS”) has:
  1. increased its authorized capital fromRp.5,000,000,000 to Rp.200,000,000,000;
  2. increased its issued and paid-up capital from Rp.5,000,000,000 to Rp.113,092,000,000, with the issuance of 1,080,920 new shares. The new shares were subscribed by PT Andalan Mas Sejahtera (“AMS”), Hillmas Coal Pte. Ltd. (“Hillmas”), and PT Blackmas Makmur (“BMM”).
  1. Newspring Coal Resources Pte. Ltd (“Newspring”) transferred 2,500 shares in SKS to AMS.

PMU, DASU, EMU, SKS, AMS, Hillmas, BMM, and Newspring are subsidiaries of the Company.