Energi Mega Persada completed its new share issuance without pre-emptive rights to improve liquidity and boost production

PT Energi Mega Persada Tbk. (“EMP” or “the Company”), today reported that it had completed the Company’s new share issuance without pre-emptive rights. The new shares issued were 4,464,253,069 shares (10% of the outstanding shares prior to the new shares issuance), which were priced at Rp100/share. The new shares issued were 51% subscribed by Welby Capital Limited, and 49% purchased by Blossom Global Assets Inc. Both subscribers are the corporate clients of PT Samuel Sekuritas Indonesia who acts as the custodian in this transaction.
The new shares issued were listed in the Indonesia Stock Exchange (“IDX”) on 27 July 2015, and the proceed of Rp446,425,306,900 (gross before subscription fee) from the sale of such shares have been well received.

Mr. Imam Agustino, the CEO of EMP, said, ”As explained earlier, we plan to use the over Rp446 billion proceed to fund the business expansion and working capital requirement of EMP and its subsidiaries. We hope to maintain 5 to 10% production growth this year (from the previous year).”

Mr. Didit Ratam, EMP’s Director, further explained, “Part of the proceed will also be used to settle some of outstanding payables. Consequently, EMP will show improved liquidity ratio going forward.”

EMP is an upstream oil & gas company which is listed in the IDX. The Company operates proved and probable oil & gas reserves of 158 million barrels equivalent as per 31 March 2015. EMP also produced 11,718 barrels of oil per day and 217 million cubic feet of gas per day in the first quarter of 2015.

 

Press Release – Energi Mega Persada completed its new share issuance without pre-emptive rights to improve liquidity and boost production

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For any questions relating to this release, please contact Herwin W. Hidayat (Investor Relations) at +6221-2994 1500. Other related Company information can be found at www.energi-mp.com

 

 

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