DSS, UFS extend long-stop date
Monday, January 26 2015 - 06:21 AM WIB
IDX-listed PT Dian Swastatika Sentosa Tbk (DSS) reached an agreement with SGX-listed United Fiber System (UFS) on January 23, 2015 to extend the long-stop date for the proposed acquisition of shares in coal mining firm PT Golden Energy Mines (GEMS) from the latter to June 3, 2015, 2015.
The extension of the long-stop date aims to give both firms chances to meet preliminary conditions and complete the transaction, DSS said in a statement on Monday.
DSS plans to hold a General Shareholders? Meeting in April 2015 to talk about the transaction. Under the Share Purchase Agreement (which has been amended several times), the deadline for the firms to meet preliminary conditions for the transaction is set on March 31, 2015.
UFS plans to acquire about 67 percent shares of GEMS from DSS for S$1.8 billion.
Editing by Johannes Simbolon