Anglo-Eastern Plantations PLC Consolidation of Holdings-Indonesian Subsidiaries (7722F)
12 Luglio 2023 - 8:00AM
UK Regulatory
TIDMAEP
RNS Number : 7722F
Anglo-Eastern Plantations PLC
12 July 2023
12 July 2023
Anglo-Eastern Plantations Plc
("AEP", "Group" or "Company")
Consolidation of AEP's Holdings in Its Indonesian
Subsidiaries
AEP is pleased to announce the acquisition of the 25% of the
issued share capital of PT United Kingdom Indonesia Plantations
("Ukindo") and the 10% of the issued share capital of PT Mitra
Puding Mas ("MPM"), from PT. Canadianty Corporindo, the minority
shareholder in Indonesia, for a total cash consideration of
US$25.2million.
Following this transaction, the Company now wholly-owns both the
Ukindo and MPM subsidiaries. The purchase of the minority interests
in these two subsidiaries is in line with the Group's stated
strategy of consolidating AEP's holdings in its Indonesian
subsidiaries with the Group's cash resources, as reported in our
2022 Annual Report.
The acquisition of the minority interests in Ukindo and MPM is
expected to enhance future earnings as it reduces non-controlling
interests in these profitable companies.
As at 31 December 2022, the gross assets of Ukindo and MPM were
approximately US$58.5 million and US$164.5 million respectively and
the profits before tax for the year then ended were approximately
US$11.6 million and US$37.3 million, respectively.
Under the FCA Listing Rules, the acquisition shares of the
non-controlling interests in Ukindo and MPM constitute a Class 2
transaction and, as such, this announcement is made in accordance
with AEP's disclosure obligations pursuant to Chapter 10 of the FCA
Listing Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014, as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act 2018
. Upon the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to
be in the public domain.
The person responsible for this announcement is Dato' John Lim
Ewe Chuan, Executive Director.
For further enquiry, contact:
Anglo-Eastern Plantations Plc
Dato' John Lim Ewe Chuan +44 (0)20 7216 4621
Panmure Gordon (UK) Limited
Dominic Morley / Amrit Mahbubani +44 (0)20 7886 2500
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQGPUGAMUPWUAP
(END) Dow Jones Newswires
July 12, 2023 02:00 ET (06:00 GMT)
Grafico Azioni Anglo Eastern Plantations (AQSE:AEP.GB)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Anglo Eastern Plantations (AQSE:AEP.GB)
Storico
Da Set 2023 a Set 2024