PT Samindo Resources Tbk agreed to acquire 99.8% stake in PT Trasindo Murni Perkasa from Samtan USA Inc and Samtan Co., Ltd. for approximately IDR 320 billion on August 24, 2012. Samtan USA Inc will sell 20 shares for IDR 6.5 billion and Samtan Co., Ltd. will sell 978 shares for IDR 315.9 billion. The share and purchase agreement is to be signed by October 31, 2012. In related transactions, PT Samindo Resources Tbk agreed to acquire 99.6% stake in PT Mintec Abadi and to acquire 99.67% stake in PT Samindo Utama Kaltim.

In order to fund the transaction, PT Samindo Resources Tbk will issue new shares with pre-emptive rights for a total exercise price of new shares at least equal to the transaction value. The rights issue is targeted the proceeds up to IDR 601.6 billion. If the rights issue is not held no later than six months after shares sales purchase agreement is signed, the shareholders of Trasindo Murni, Mintec Abadi and Samindo Utama have agreed to allow the company to seek other funding sources to fund the acquisition, including from banks and other financial institutions. The payment will be given by PT Samindo Resources Tbk to each shareholder of PT Mintec Abadi, PT Trasindo Murni Perkasa and PT Samindo Utama Kaltim within thirty business days after the listing date of shares from the issuance of shares with pre-emptive rights on the Indonesia stock exchange. If the issuance of shares failed to be conducted within six months after the date of the purchase agreement of shares, the holders of shares of PT Mintec Abadi, PT Trasindo Murni Perkasa and PT Samindo Utama Kaltim agreed that PT Samindo Resources Tbk may seek other funding sources to pay for transactions, including from banks or other financial institutions.

In the year through April, Trasindo Murni reported revenues of IDR 112.2 billion and net profit of IDR 12.61 billion. PT Samindo Resources Tbk will hold a general meeting of shareholders to approve the share issuance no later than December 31, 2012. The transaction is subject to approval from the shareholders of PT Samindo Resources Tbk in general meeting of shareholders. The shareholders of PT Samindo Resources approved the transaction on September 27, 2012. The transfers of the shares will be effective on the date of the signing of the sale and purchase agreement of shares. Tjahjadi & Tamara acted as accountant for PT Samindo Resources Tbk.

PT Samindo Resources Tbk completed the acquisition of 99.8% stake in PT Trasindo Murni Perkasa from Samtan USA Inc and Samtan Co., Ltd. on September 28, 2012.