Management of PT Matahari Putra Prima Tbk will make a cash
dividend in the year 2010 amounting to Rp 1 trillion. Matahari Putra Prima, or MPP also will pay most of the bank debt and bonds that total value of Rp 3.4 trillion.
Director
Benjamin J Mailool MPP in public exposure in Jakarta, Friday
(5/3/2010), say, the source of funds for distribution of dividends and
debt payments would be obtained from the sale of 90.76 per cent stake
in PT Matahari Department Store Tbk, one of MPP's largest subsidiary.
"In
addition to dividend proposed Rp 1 trillion, we will pay most of the
debt, either to the bank and our bond issue, amounting to Rp 3.4
trillion. After that, our debt position will be close to zero, "said Benjamin.
He explained that the debt position of the company currently USD 3.5 trillion. Consist
of bonds worth 200 million U.S. dollars, or about Rp 1.8 trillion
rupiah of bonds valued at Rp 500 billion, and the remaining debt to the
bank.
M.atahari Meadows will be sold to Asia Capital (MAC) at the price of USD $ 2705.33 per share or a total of Rp 7.164 trillion. The price has been agreed at the initial agreement between the sale of MPP and the MAC on 23 January. However,
the takeover of the Sun by the MAC is still awaiting approval to the
General Meeting of Shareholders Extraordinary MPP planned to be held in
March or April 2010. (REI)
5.3.10
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