NEWS & EVENTS

 

Completion of transaction on the sale of 2,500 telecommunication towers owned by PT XL Axiata Tbk with PT Profesional Telekomunikasi Indonesia

Jakarta, June 30 2016 | Source: Company

In order to comply with the provisions of the Financial Services Authority No. 31/POJK.04/2015 concerning Disclosure of Material Information or Facts by Issuers or Public Companies, hereby we, PT Sarana Menara Nusantara Tbk. ("Company") submit a Report on Material Information or Facts as follows

Name of Issuer or Public Company:PT Sarana Menara Nusantara, Tbk
Line of Business:Services except for services in the fields of law and taxation, as well as investment or participation in other companies.
Telephone:021-2358 5500
Facsimile:021-2358 6446
E-mail:investor.relations@ptsmn.co.id


1.Date of Event 29 June 2016.
2.Type of Material Information or FactsCompletion of transaction on the sale of 2,500 telecommunication towers owned by PT XL Axiata Tbk ("XL") with PT Profesional Telekomunikasi Indonesia, a subsidiary of the Company which 99.99% of its shares is owned by the Company ("Protelindo").
3.Description of Material Information or Facts Referring to the announcement on disclosure of information of the Company dated 29 March 2016 through website of the Indonesian Stock Exchange and website of the Company in connection with the plan to purchase 2,500 telecommunication towers owned by XL through tenders, the Company hereby informs that Protelindo has completed the sale transaction of 2,500 telecommunication towers owned by XL to Protelindo ("Transaction").

Furthermore, Protelindo has leased back 2,433 towers from the towers sold to XL, where XL is the main lessee for a period of 10 years under a Tower Master Lease Agreement.
4.Impact of event, material information or facts on legal operational activities, financial condition or business continuity of Issuer or Public Company With the completion of this transaction, a number of 2,500 towers that have been purchased by Protelindo will be listed as assets of the Company considering that the financial statements of Protelindo are consolidated with the financial statements of the Company.
5.Additional Information We inform you that XL and Protelindo have agreed to amend the number of towers leased back to XL from 2,432 towers (as announced on 29 March 2016) to become 2,433 towers.