News

On 11 November 2014, the Company was notified that the Ministry of Law and Human Rights of the Republic of Indonesia, pursuant to its Decision No. AHU-33387.40.10.2014 dated 7 November 2014, has approved the deed of establishment of PT. APM AUTOMOTIVE INDONESIA (“PT. APMAI”), as a result of which PT. APMAI has been duly established and granted its legal entity status. The Principle License of PT. APMAI was issued by the Indonesian Investment Coordinating Board (“ICB”) on 29 October 2014.

PT. APMAI is a limited liability company with an authorised share capital of US$1,500,000.00 (equivalent to Rp. 17,989,500,000.00) comprising 1,500,000 shares each having nominal value of US$1.00. The total issued and paid-up share capital will be US$1,200,000.00 (equivalent to Rp. 14,391,600,000.00) and will be subscribed for by two (2) of the Company’s 100% owned investment holding companies:-

            APM Automotive Indonesia Ltd   – 1,080,000 shares (90%)

            APM Automotive International Ltd – 120,000 shares (10%)

Under the Principle License of PT. APMAI with the ICB, PT. APMAI is permitted to carry out the business on management consultancy activities and property leasing.

The registration of PT. APMAI has no material effect on the earnings, gearing and net assets of the APM Group for the financial year ending 31 December 2014.

This announcement is dated 12 November 2014.