Jan 4, 2011

Samko Timber boosts stake in SGS

Singapore-listed company Samko Timber Ltd today announced that the company's shareholding in its subsidiary PT Sumber Graha Sejahtera (SGS) has increased from 99.980% to 99.987%.
In a public statement submitted to Singapore Stock Exchange recently, the increase is a result of the issuance of 710,000 new shares by SGS to the company following the capitalisation of the outstanding debt of IDR710 billion owing by SGS to Samko under a shareholder loan from the Company.
The issuance of the new shares by SGS to Samko Timber has no material impact on the earning per share or the net assets per share of the Company.
None of the Directors or controlling shareholders of the company has any interest, direct or indirect, in the above transaction.

Disclosure: No position at the stock mentioned above.
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