PT Central Omega Resources Tbk (DKFT) announced that there had been a sale of shares by PT Mocrolink Nickel Development (MND) in two subsidiaries, namely PT Macrolink Omega Adiperkasa (MOA) and COR Industri Indonesia (CORII). This sale will take place on July 1, 2024.

DKFT Director, Feni Silviani Budiman, stated in his written statement that MND had sold 4,500,000 MOA shares, which is equivalent to 60%, to DKFT with a transaction value of IDR 1.

Apart from that, MND also sold 268,892 CORII shares, equivalent to 40%, to MOA with a transaction value of IDR 1.

With this transaction, DKFT now owns 7,499,900 MOA shares, equivalent to 99.99%, while Andi Jaya owns 100 shares, equivalent to 0.001%.

On the other hand, DKFT also owns 391,776 CORII shares, equivalent to 59.30%, while MOA now owns 268,668 CORII shares, equivalent to 40.70%.

Feni added that with this transaction, DKFT is now the controlling shareholder in MOA and remains the controlling shareholder in CORII. This shows DKFT's strategic steps in strengthening its position in the nickel industry.

CORII is a subsidiary of the Company which operates in the field of nickel ore processing (smelter). Since November 2021 until now, CORII is not operating due to the maintenance program.

There are similarities in the members of the Board of Commissioners and Directors between CORII and MOA. Meanwhile, MIM is a party that is not affiliated with the Company. "However, this affiliate transaction is not a conflict of interest transaction as intended in POJK 42/2020," wrote management.