Dividends Adaro Energy 2009 Annual Report English

154 Adaro Energy Annual Report 2009 From Us to Y ou Running Adaro Management Report Owning Adaro Governing Adaro Financial Report Contact Us Corporate Social Responsibility Adaro in Summary www.adaro.com PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 516 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2009 AND 2008 Expressed in million Rupiah, unless otherwise stated

3. ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES continued

b. Acquisition of PT Alam Tri Abadi

On 3 January 2008, ATA increased its issued and paid in capital through the issuance of 1,500,000 new shares with a par value of Rp 1,000,000 full amount per share. The Company acquired all the new shares issued, and the Company’s interest in ATA increased from 49.99 to 92.02. The restructuring transaction of 3 January 2008 was accounted for using the pooling -of-interests method as required under SFAS No. 38 Revised 2004, since the Company and ATA are entities under common control. Details of the book value of net assets acquired and the difference arising from this restructuring transaction of entities under common control are as follows: 2008 Purchase consideration through cash payment 1,500,000 Book value of net assets acquired 1,462,282 Difference in value from restructuring transactions of entities under common control 37,718 On 15 July 2008, ATA increased its issued and paid in capital through the issuance of 10,863,438 new shares with a par value of Rp 1,000,000 full amount per share. The Company acquired all the new shares issued for Rp 10,863,438, and the Company’s interest in ATA increased from 92.02 to 98.87. The restructuring transaction of 15 July 2008 was accounted for using the pooling-of-interests method as required under SFAS No. 38 Revised 2004, since the Company and ATA are entities under common control. The details of the book value of net assets acquired and the difference arising from this restructuring transaction of entities under common control ar e as follows: 2008 Purchase consideration through cash payment 10,863,438 Book value of net assets acquired 10,872,310 Difference in value from restructuring transactions of entities under common control 8,872 On 15 July 2008, the Company increased its ownership in ATA through the acquisition of the shares of SRIS and PCI in ATA, amounting to 94,951 shares and 47,477 shares, respectively, with a total acquisition amount of Rp 356,000. Through these transactions, the Company’s interest in ATA increased from 98.87 to 100.00. The restructuring transaction of 15 July 2008 was accounted for using the pooling-of-interests method as required under SFAS No. 38 Revised 2004, since the Company and ATA are entities under common control. The details of the book value of net assets acquired and the difference arising from this restructuring transaction of entities under common control are as follows: 2008 Purchase consideration through cash payment 356,000 Book value of net assets acquired 143,886 Difference in value from restructuring transactions of entities under common control 212,114

c. Acquisition of PT Makmur Sejahtera Wisesa

On 15 January 2008, MSW increased its issued and paid in capital through the issuance of 887,405 new shares with a par value of Rp 50,000 full amount per share. The Company acquired 443,703 of the new shares issued amounting to Rp 22,185, and the Company’s interest in MSW increased from 45.00 to 49.80. On 24 January 2008, the Company acquired an additional 49.80 interest in MSW through purchases from PT Saratoga Sentra Business “SSB” and PCI, each of 24.90 for Rp 11,524.50, and the Company’s interest in MSW increased from 49.80 to 99.60. For this acquisition, the Company paid Rp 864 in cash and issued new shares in the Company amounting to Rp 22,185.