Teledata acquires Centrin Online
Teledata (Singapore) Limited has entered into a MoU to acquire 446.74 million shares, representing 77.68% of the issued and paid up capital of PT Centrin Online Tbk, for S$17.2 million.
Listed on the Indonesia Stock Exchange (IDX), PT Centrin Online Tbk is a leading Indonesia-based Internet service provider, with services such as dial up, business access, local area network(LAN) dial up, dial up integrated services digital network (ISDN), dedicated and leased lines Web hosting services, co-location services, mailing list services and voice-over-Internet protocol.The Company has branch offices in Jakarta, Surabaya, Bogor, Yogyakarta, Batam, Medan and Denpasar.
Under the MOU terms, Teledata is proposing to pay S$5.0 million in cash to be financed by way of bank borrowings while the balance will be paid through the issuance of a convertible bond in favour of PT Centrin.
The convertible bond will have a coupon rate of 5% per annum, par value of S$12.16 Million with a maturity date of 20 January 2012. The convertible bond may be converted into stock of Teledata upon maturity at a price of S$0.10 per share.
Listed on the Indonesia Stock Exchange (IDX), PT Centrin Online Tbk is a leading Indonesia-based Internet service provider, with services such as dial up, business access, local area network(LAN) dial up, dial up integrated services digital network (ISDN), dedicated and leased lines Web hosting services, co-location services, mailing list services and voice-over-Internet protocol.The Company has branch offices in Jakarta, Surabaya, Bogor, Yogyakarta, Batam, Medan and Denpasar.
Under the MOU terms, Teledata is proposing to pay S$5.0 million in cash to be financed by way of bank borrowings while the balance will be paid through the issuance of a convertible bond in favour of PT Centrin.
The convertible bond will have a coupon rate of 5% per annum, par value of S$12.16 Million with a maturity date of 20 January 2012. The convertible bond may be converted into stock of Teledata upon maturity at a price of S$0.10 per share.
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