Astragraphia Got Approval To Acquired SAT
Jakarta, August 20th, 2008 - Shareholders of PT Astra Graphia Tbk (ASGR) has approved a ASGR plan to buy shares of PT SCS Astragraphia Technologies (SAT) from Singapore Computers Systems Limited (SCS). This was announced in a press conference today after ASGR get an approval from general meeting of extraordinary shareholders which held previously. The number of SAT shares purchased by ASGR as much as 39.269 shares representing 50,99% of SAT capital with a purchase price of Rp.89.997.708.175,-. Previously ASGR already have 37.730 shares representing 49% of paid-in SAT capital so thus ASGR will have a 99.99% ownership in SAT.
Approval of the general meeting of shareholders is one of the conditions specified in the agreement of buying and selling shares (Conditional Share Purchase and Joint Venture Termination Agreement) on 24 June 2008, which had been signed by ASGR and SCS. SCS will also sell 1 share to PT Intertel Nusaperdana (Intertel), so thus SAT will be owned by ASGR and Intertel and change its status became the company's non-facility. After acquisition, SAT performance will be consolidated into the financial statements ASGR.
Lukito Dewandaya, President Director of ASGR stated that, "The aim of acquisition of SAT are as follows: (i) it has full control to determine the direction and the future of SAT; (ii) support the desire to grow quicker, organically as well as inorganic; (iii) Have a bigger role as IT company in Astra Group; and (iv) Improving service and contribution to all stakeholders. Through this acquisition ultimately Astragraphia expected to more quickly improve its performance to be better." Acquisition was funded entirely by internal cash ASGR.
PT Astra Graphia Tbk is public company established in 1976, and list its shares on Indonesia stock exchange in 1989. Astragraphia is based on ICT Business solutions provider, with the main partner of Fuji Xerox. Network services spread over 75 service points scattered on 21 branch offices and other locations across Indonesia.
For further information:
Corporate Secretary PT Astra Graphia Tbk
Telp: 390 9190 / Fax: 390 9181