Sep 9, 2011

Royal Oak tender offer set at Rp225

Pikko Land Corporation, a BVI founded company, today announces that the company has revised a tender offer price for the remaining shares of property company PT Royal Oak Development Tbk (RODA) at Rp225 per share from the previous announcement at Rp175 per share.
In an official statement published today, Pikko Land will set the mandatory tender offer at Rp225 per share.
Pikko Land acquired 9.16 billion shares or 68.01% shareholding in Royal Oak at Rp225 per share from Forever Prosperous Pte Ltd, Singapore.
Forever Prosperous Director Tan Ting Yong said the shares transfers were held on September 7 and September 8 via PT Sinarmas Sekuritas.

Disclosure: No position at the stock mentioned above.

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