GEM Global Yield Fund Commits to Invest Up to IDR 180 Billion in PT. Sidomulyo Selaras Tbk (SDMU)
PT. Sidomulyo Selaras Tbk, a publicly listed transportation and logistics company on the Indonesian Stock Exchange, has successfully signed an Investment Agreement today in the form of an Equity Line of Credit valued at IDR 180 billion for 3 years, and a Call Option for IDR 132 billion with GEM Global Yield Fund of the Global Emerging Markets Group. Total Investments will be IDR 312 billion.
Under this Investment Agreement, GEM has committed to subscribe for new shares in SDMU up to IDR 180 billion which SDMU has the command and control on the amount (based on the market price) and timing of any investment, through its issuance of a series of draw down notices. Hogan’s Lovell’s LLP, an international law firm based in London, was pointed as the legal advisor to GEM.
This Investment Agreement is one plan which has been realized by SDMU for a long-term funding strategy. This Agreement will allow the Company to access additional capital. In the long term, the funding to be provided by GEM could potentially reach up to IDR 312 billion. This investment will make the company's cash flow stronger and allow for immediate expansions and execution of strong sales and marketing plans.
About PT. SIDOMULYO SELARAS TBK (SSX: SDMU – ISIN: ID1000120108)
PT. Sidomulyo Selaras Tbk, www.sidomulyo.com, a “Local yet Global-Minded” inland transportation company, established in 1993, manages two independent yet interrelated divisions; Transportation and Logistic. Its core business is in the Hazardous and Dangerous Chemical Good Transportation and Crude Oil & Gas transportation, while Logistic is a value-added professional service to give a total Logistic Solution.
On June 30, 2014 financial statements, managed to obtain a revenue of IDR 84.5 billion, an increase of 11% from the same period in 2013, while the profit of the Company increased by 179% over the period 30 June 2013.
About GEM Group
The Global Emerging Markets Group, www.gemny.com, is a $3.4b alternative investment group having completed 365 transactions in 65 countries. The firm manages a diverse set of investment vehicles across the world. GEM's funds include: CITIC/GEM Fund; Kinderhook Industries; GEM Global Yield Fund; and GEM India.
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Contact information
PT Sidomulyo Selaras Tbk
Tjoe Mien Sasminto, +62-21-4266002
sasminto@sidomulyo.com
or
Global
Emerging Markets Group (GEM)
Warren P. Baker, III
wbaker@gemny.com
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