Dian Swastatika announces share transfers by subsidiaries

By Romel S. Gurky

IDX-listed mining firm PT Dian Swastatika Sentosa Tbk said on Thursday that on June 28, 2016, PT DSSP Power Mas Utama, company's indirect subsidiary with ownership more than 99 percent, has transferred all shares owned in Hillmas Coal Pte. Ltd., company's indirect subsidiary with ownership more than 99%, with equivalent value of US$21,451,913, to PT Andalan Mas Sejahtera, company's indirect subsidiary with ownership more than 99 percent.

At the same date, PT DSSP Power Mas Utama has also transferred all shares owned in Newspring Coal Resources Pte. Ltd. , company's indirect subsidiary with ownerhsip more than 99 percent, with value of $2, to PT Andalan Mas Sejahtera.

The transfer of shares above is done for the purpose of internal restructuring.

Editing by Johannes Simbolon