PT Carsurin Mineral Solution (a subsidiary of the Company) has established a new company named PT Carsurin Indo Mineral which is the result of a joint venture between PT Carsurin Minerals Solutions and PT Indo Mineral Research which is intended to support the Company’s long-term strategy in the mineral business sector.
In this case there is no affiliate relationship between PT Indo Mineral Research and PT Carsurin Tbk or PT Carsurin Minerals Solutions. The establishment of the new company has been stated in the Deed of Establishment of a Limited Liability Company Number 2 dated 02 December 2024 which was made before Notary Rini Yulianti, SH and has received approval for the establishment of a Limited Liability Company Legal Entity from the Minister of Law of the Republic of Indonesia through his Decree Number: AHU-0095763. AH.01.01.TAHUN2024 dated 02 December 2024.
PT Carsurin Indo Mineral was established with the Company’s authorized capital of IDR 1,000,000,000 (one billion rupiah) divided into 10,000,000 (ten million) shares. From the authorized capital, 2,500,000 (two million five hundred) shares have been issued and paid up with a total nominal value of IDR 250,000,000 (two hundred and fifty million rupiah) with details of the size of each shareholder as follows. :
1. PT Carsurin Minerals Solutions, divided into 1,275,000 shares with a total nominal value of Rp. 127,500,000.00 (one hundred twenty-seven million five hundred thousand rupiah); And
2. PT Indo Mineral Research, divided into 1,225,000 shares with a total nominal value of IDR 122,500,000.00 (one hundred twenty-two million five hundred thousand rupiah). The following is the share ownership composition of PT Carsurin Indo Mineral:
PT Carsurin Minerals Solutions : 51% PT Indo Mineral Research: 49% Total : 100% Whereas based on the Company’s annual financial report for the 2023 financial year which has been audited, the transaction above has a transaction value below 20% (twenty percent) of the Company’s total equity value, so based on POJK 17/POJK.04/2020 article 11,