Axiata strives to raise our shareholder value by striking a balance between
short-term profitability and long-term growth.
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | WINNING BIDDER FOR THE SALE OF 3,500 TELECOMMUNICATION TOWERS BY PT XL AXIATA TBK (“XL”) |
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For purposes of this announcement, “USD” refers to United States Dollar, “IDR” refers to Indonesian Rupiah and “RM” refers to Ringgit Malaysia. Exchange rates used for conversion to RM are RM1:USD0.3057 and RM1:IDR3,717.5, based on the middle rates as at 12.00 p.m. on 30 September 2014 as published by Bank Negara Malaysia.
We refer to the announcement by XL released to the Indonesia Stock Exchange today, 1 October 2014. Axiata Group Berhad (“Axiata”) wishes to announce that XL, a 66.5%-owned subsidiary of Axiata, following the completion of an open tender process for XL’s 3,500 telecommunication towers launched in July 2014, had declared PT Solusi Tunas Pratama Tbk. (“STP”) as the winning bidder at the completion of the tender process on 30 September 2014. Following the above, XL and STP had also entered into an Asset Purchase Agreement (“APA”) with a purchase price of IDR5.6 Trillion (equivalent to USD460.5 million, RM1,506.4 million) to be paid entirely in cash by 31 December 2014. Concurrent with the execution of the APA, the Company and STP have also entered into a Master Tower Lease Agreement whereby XL has agreed to leaseback from STP the towers sold for a period of 10 years. This announcement is dated 1 October 2014. |
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| Company Name | AXIATA GROUP BERHAD |
| Stock Name | AXIATA |
| Date Announced | 1 Oct 2014 |
| Category | General Announcement |
| Reference No | AG-141001-8AD02 |