The Extraordinary General Meeting of Shareholders’ (EGMS) of PT Bank Danamon Indonesia Tbk
(Danamon) today approved the company’s plan to conduct a limited public offering V through rights offering (“LPO V”) to its shareholders. As part of the LPO V, Danamon will issue 1,162,285,399 (one billion one hundred and sixty two million two hundred and eighty five thousand three hundred ninety nine) Series B shares with a nominal value of Rp 500 (five hundred Rupiah) per share at the offering price of Rp 4,300 (four thousand three hundred Rupiah) per share, with a total value of Rp 4,997,827,215,700 (four trillion nine hundred and ninety seven billion eight hundred and twenty seven million two hundred and fifteen thousand seven hundred Rupiah).
(Danamon) today approved the company’s plan to conduct a limited public offering V through rights offering (“LPO V”) to its shareholders. As part of the LPO V, Danamon will issue 1,162,285,399 (one billion one hundred and sixty two million two hundred and eighty five thousand three hundred ninety nine) Series B shares with a nominal value of Rp 500 (five hundred Rupiah) per share at the offering price of Rp 4,300 (four thousand three hundred Rupiah) per share, with a total value of Rp 4,997,827,215,700 (four trillion nine hundred and ninety seven billion eight hundred and twenty seven million two hundred and fifteen thousand seven hundred Rupiah).
“The LPO V will further strengthen Danamon’s capital and balance sheet position, and support our business growth in the future,” said Henry Ho, President Director of Danamon. After the LPO V, Danamon’s proforma standalone Capital Adequacy Ratio (CAR) will increase from 12.05% to 16.98%, while its consolidated CAR will improve from 14.75% to 19.16% as of 31 March 2011. “Proceeds from the LPO V, after payment of fees and related expenses, will be allocated for the extension of credit to micro, small and medium-scale business sectors as well as automotive financing,” stated Vera Eve Lim, Chief Financial Officer and Director Danamon. The LPO V will be
conducted by way of issuance of pre-emptive rights (“Rights”) to shareholders whose names are registered in the Share Register of the Bank as of 12 September 2011 at 16.00 Jakarta Time and will abide with the prevailing rules and regulations of the Indonesian Capital Markets and Stock Exchange where the rights will be registered.Each holder of 1,000 shares in Danamon will be entitled to 138 (one hundred thirty eight) Rights to
subscribe for 138 (one hundred thirty eight) new series “B” Shares at the offering price of Rp 4,300 (four thousand three hundred Rupiah) per share, which shall be fully paid in cash at subscription date. The certificate of Rights will be available for trading starting from 14 September 2011 until 21 September 2011.
subscribe for 138 (one hundred thirty eight) new series “B” Shares at the offering price of Rp 4,300 (four thousand three hundred Rupiah) per share, which shall be fully paid in cash at subscription date. The certificate of Rights will be available for trading starting from 14 September 2011 until 21 September 2011.
The Rights Issue is scheduled to be completed by end of September 2011, and has been fully underwritten by Citigroup Global Markets Singapore Pte. Ltd. and Deutsche Bank AG, Hong Kong Branch as Standby Purchasers. Danamon’s majority shareholder, Asia Financial (Indonesia) Pte Ltd, which owned 67.37% of the company as of 30 June 2011, has also provided undertaking to subscribe in full for its pro-rata entitlement to the Rights.