BBL Tops Up Stakeholding in “Permata” to 98.71% after Completes the MTO

Bangkok Bank Public Company Limited (BBL) announced that the Bank has completed mandatory tender offer (MTO) for the remaining shares in PT Bank Permata Tbk (Permata) (representing approximately 10.88% of the total issued and paid-up shares in Permata held by minority shareholders) on October 7, 2020 by purchasing 2,970,419,446 shares in Permata, representing 10.59% of the total issued and paid-up shares in Permata.

 

Nevertheless, in accordance with applicable laws and regulations of Indonesia a commercial banks in Indonesia with shares listed on the Indonesian stock exchange must have at least 1% shares held by an Indonesian citizen and/or legal entity. Thus, the Bank has sold 280,427,394 shares in Permata, representing 1% of the total issued and paid-up shares in Permata, to an Indonesian entity on October 6, 2020 before the completion of MTO.

 

Therefore, as of the date of this letter, the Bank owns 27,681,421,384 shares in Permata, representing 98.71% of the total issued and paid-up shares in Permata.