Intraco, Dresden Cove Corp sign warrant transfer agreement

By Ruli Setiawan

IDX-listed heavy equipment company PT Intraco Penta Tbk and British Virgin Island-registered Dresden Cove Corporation (DCC) signed a warrant transfer agreement on December 20, 2013.

Intraco said in a statement obtained Tuesday that under the agreement, DCC will transfer part of warrants issued by Kalimantan-based miner PT Baratama Indo Nusa Borneo it held to Intraco.

The transfer is a form of Intraco?s Rp 46.32 billion investment in Baratama, which holds an IUP mining permit in Kalimantan.

Editing by Reiner Simanjuntak