51% Share Acquisition Completed, DOOH Changes Controller

PT Sinergi Internasional Investama has completed an acquisition transaction through the purchase of 3.94 billion shares of PT Era Media Sejahtera Tbk (DOOH).

The acquisition represents 51% of the company’s total issued and fully paid-up capital from PT Prambanan Investasi Sukses, at a takeover price of Rp 50 per share. The total acquisition value amounted to Rp 197.34 billion.

The ultimate beneficial owner of the new controller is Tinawati, who owns 99.9% of the new controller’s total issued and fully paid-up capital.

The purpose of the acquisition is for investment and business development of the company. The new controller is committed to continuing and developing the business activities that have been carried out by the target company while utilising the management, resources, competencies, business networks, and operational activities already owned and operated by the company.

The new controller will encourage improved operational performance, strengthen the implementation of good corporate governance, optimise assets and resources, and enhance the effectiveness of business strategies to support the company’s sustainable business growth.

Prior to the acquisition, the new controller had no affiliation with the company.

In connection with the acquisition and change of control, PT Sinergi Internasional Investama as the new controller will conduct a Mandatory Tender Offer for the company’s shares that are required to be the object of a Mandatory Tender Offer in accordance with POJK No. 9/2018.