Debt Restructuring, SLJ Global (SULI) Will Conduct Private Placement

February 13, 2024, 02.13 PM | Reporter: Akhmad Suryahadi

ILUSTRASI. SLJ Global (SULI) will hold a private placement of 1.32 billion shares at a price of 150.

CORPORATE ACTION – JAKARTA. PT SLJ Global Tbk (SULI) will carry out a capital increase without pre-emptive rights (PMTHMETD) or private placement. This corporate action is taken to improve SULI's financial condition.

In the disclosure of information at the Indonesia Stock Exchange, Tuesday (13/2), this processed wood producer issuer will issue 1.32 billion new shares. The private placement will be carried out at a price of Rp 150 per share.

Referring to POJK No. 14/2019 Article 3 letter a jo. Article 8B letter c, PMTHMETD can be held to improve the financial position as long as the public company is unable to fulfill its financial obligations when due to unaffiliated lenders.

Private placement can be carried out as long as the unaffiliated lenders agree to accept shares.

As many as 7 creditors have given approval for debt conversion and have been approved at the Extraordinary General Meeting of Shareholders (EGMS) held on November 30, 2023. In this PMTHMETD, conversion will be carried out for 5 creditors first.

The five creditors, first is Mataram Limited Pte, Ltd with 554.04 million shares. Second, in the name of Mr. Hui Pak Kong with 104.73 million shares. Third, PT Borneo Karya Persada with 286.66 million shares.

Fourth, the creditor in the name of PT Sani Mardani Resources with 84.50 million shares. Fifth, PT Pelayaran Sentra Arung Makmur with 296.52 million shares.

After the implementation of the private placement, the total placed and paid-up capital of SULI will increase from the original 4.07 billion shares to as many as 5.4 billion shares.