- 119 - For example, the calculation of the value of HMETD as set out below is one of ways to calculate the value of HMETD Certificate, but it does not
guarantee that the result of calculation of the value of HMETD will represent the actual value of HMETD applied in the market. The explanation below is expected to provide a general description to calculate the value of HMETD Certificate:
Assumption: Assumed Market Price per share
= Rpa Exercise Price
= Rpb Outstanding Shares prior to the LPO I
= A Offered Shares in the LPO I
= B Rpa x A + Rpb x B
Theoretical Value of New Shares Ex-HMETD = A + B
= RpX Value of HMETD per share
= RpX – Rpb
6. Use of HMETD Certificate
The HMETD Certificate is evidence of HMETD granted by the Company to the HMETD holders to subscribe for the New Shares. The HMETD Certificate will only be issued to the shareholders who have not converted their shares into scripless form and it shall be used to subscribe for
New Shares. Copies of HMETD Certificate will not be valid. HMETD Certificate may not be converted unti cash or any other maneer and other forms of securities of the Company. HMETD Certificate for HMETD holders in collective depository at KSEI will be provided by KSEI through a
Member of Stock Exchange or Custodian Bank. 7.
Fractional HMETD
In accordance with Rule No. IX.D.1, in the event that a shareholder is entitled to a number of HMETD, which includes a fraction of HMETD, such fractional HMETD would not be delivered to the shareholder, but would be aggregated by the Company to be sold so that the Company will
issue HMETD in a whole number, and subsequently the proceeds would be deposited into the Company’s account.
8. Others
The terms and conditions of HMETD are governed and subject to applicable laws in the Republic of Indonesia. All expenses incurred in the transfer of HMETD shall be borne by the HMETD Certificate Holders or the potential holder of HMETD. For further information regarding the
HMETD, the investor may contact the Share Registrar for this LPO I.
