PT Bakrie & Brothers Tbk committed to absorb at least 18.84 percent or 4.93 billion new stocks issued by PT Energi Mega Persada Tbk in the rights issue II.
The statement was said by Director of Energi Mega Didit Hidayat Agripinanto Ratam and Amir Balfas in the public expose to Indonesia Stock Exchange last Wednesday.
The statement was said by Director of Energi Mega Didit Hidayat Agripinanto Ratam and Amir Balfas in the public expose to Indonesia Stock Exchange last Wednesday.
They said Bakrie & Brothers has submitted the Statement Letter by December 9, 2009, containing its commitment to perform its rights at least 18.84 percent of the whole shares issued by the oil and gas producer here.
Energi Mega plans to issue 26.18 billion stocks to tap some IDR4.84 trillion fresh fund from the shareholders. The remaining unabsorbed stocks by Bakrie & Brothers as the major shareholder with major possession of 43.2 percent will be absorbed by standby buyer, PT Danatama Makmur and PT Madani Securities.
"The unabsorbed stocks by the shareholders will be taken by the standby buyers proportionally consisting of 17.11 billion shares for Danatama and 4.14 billion shares for Madani at the par value of IDR185," said both directors this week.
Energi Mega also intends to have EGMS December 30 to seek shareholders approval for the rights issue scheme. The meeting schedule was suspended two days after the prior schedule of 28 December.
On the rights issue II, Energi Mega will issue 4.91 billion I series warrants jointly with the secondary offering.
Each holder of 12 warrants of the secondary offering whose names were listed on February 11, 2011 will get three warrants of which each warrant provides rights to the shareholder to buy one new stock at a par value of IDR190.
From the warrant offering, the company aims to get extra fund of IDR932.78 billion. It means Energi Mega could totally tap IDR5.77 trillion from the rights issue.
Energi Mega plans to use most of the rights issue funds for debt refinancing and acquisition of 10 percent Blok Masela PSC from Inpex worth SU4100 million or IDR965 billion.
In terms of performance, the company aims to get profit after tax of US$10-15 million or IDR141 billion in 2010, or doubled from this year consensus US$5.05 million.
Management of Energi Mega projected it could book US$137 million revenues by end of the year and rose from S$230 million in 2010. at the same time, the EBITDA of oil and gas company this year stands at US$7 million and US$68 million in 2010.
"The unabsorbed stocks by the shareholders will be taken by the standby buyers proportionally consisting of 17.11 billion shares for Danatama and 4.14 billion shares for Madani at the par value of IDR185," said both directors this week.
Energi Mega also intends to have EGMS December 30 to seek shareholders approval for the rights issue scheme. The meeting schedule was suspended two days after the prior schedule of 28 December.
On the rights issue II, Energi Mega will issue 4.91 billion I series warrants jointly with the secondary offering.
Each holder of 12 warrants of the secondary offering whose names were listed on February 11, 2011 will get three warrants of which each warrant provides rights to the shareholder to buy one new stock at a par value of IDR190.
From the warrant offering, the company aims to get extra fund of IDR932.78 billion. It means Energi Mega could totally tap IDR5.77 trillion from the rights issue.
Energi Mega plans to use most of the rights issue funds for debt refinancing and acquisition of 10 percent Blok Masela PSC from Inpex worth SU4100 million or IDR965 billion.
In terms of performance, the company aims to get profit after tax of US$10-15 million or IDR141 billion in 2010, or doubled from this year consensus US$5.05 million.
Management of Energi Mega projected it could book US$137 million revenues by end of the year and rose from S$230 million in 2010. at the same time, the EBITDA of oil and gas company this year stands at US$7 million and US$68 million in 2010.
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