Datakom objects to share reduction<\/p>\n
JAKARTA (JP): PT Datakom Asia opposed on Tuesday the decline
\nin its ownership in private television station SCTV to 26.85
\npercent from 47.5 percent.<\/p>\n
The company's lawyer, Hotman Paris Hutapea, said the decision
\nto cut its ownership in the station had no valid legal ground.<\/p>\n
\"The dilution in the ownership has a legal defect. Datakom
\nAsia still has a 47.5 percent stake in SCTV,\" Hotman told
\njournalists.<\/p>\n
The shareholders were scheduled to hold a meeting late on
\nTuesday to approve the new composition of the share ownership in
\nthe station. But the meeting was canceled as Datakom
\nrepresentatives opposed the change.<\/p>\n
SCTV's shareholders agreed in late November to enlarge the
\ntelevision station's capital by Rp 100 billion in a bid to
\nstrengthen its capital base. All shareholders were required to
\nprovide the fresh funds on a proportional base but Datacom failed
\nto meet its commitment. As a consequence, its ownership was
\nreduced to 26.85 percent.<\/p>\n
PT Mitrasari Persada's share ownership, however, increased to
\n73.15 percent from 52.5 percent previously.<\/p>\n
PT Datakom Asia is owned by businessman Peter Gonta; Mitrasari
\nby securities company Bhakti Investama and businessmen Henry
\nPribadi and Sudwikatmono.<\/p>\n
Bhakti Investama is known as a local securities company that
\nserves as one of the investment vehicles of prominent American
\nfund manager George Soros.<\/p>\n
Hotman insisted that the shareholders' meeting in November was
\nnot legally acceptable and dismissed Datakom had agreed to the Rp
\n100 billion capital injection plan.<\/p>\n
\"The November shareholders' meeting only had 50 percent
\nshareholder approval whereas the company's articles require at
\nleast 66.67 percent approval,\" he said.(udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/datakom-objects-to-share-reduction-1447893297",
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