Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Indonesia
  4. INDONESIA STOCK EXCHANGE
  5. PT Saratoga Investama Sedaya Tbk
  6. News
  7. Summary
    SRTG   ID1000127707

PT SARATOGA INVESTAMA SEDAYA TBK

(SRTG)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Provident Capital Partners Pte. Ltd., PT Saratoga Investama Sedaya Tbk and PT Merdeka Copper Gold Tbk completed the acquisition of remaining 80.16% stake in Finders Resources Limited from Resource Capital Funds, Acorn Capital Limited, Taurus SM Holdings Pty Limited and others.

04/05/2019 EDT

Provident Capital Partners Pte. Ltd., PT Saratoga Investama Sedaya Tbk (IDX:SRTG) and PT Merdeka Copper Gold Tbk (IDX:MDKA) made an off-market takeover offer to acquire remaining 80.16% stake in Finders Resources Limited (ASX:FND) from Resource Capital Funds, Acorn Capital Limited, Taurus SM Holdings Pty Limited and others for approximately AUD 140 million on October 6, 2017. Provident Capital Partners, PT Saratoga Investama Sedaya and PT Merdeka Copper Gold will acquire the shares at AUD 0.23 per share in cash. The cash consideration shall be paid by the earlier of 21 days after the end of the offer period or within one month after the date the offer becomes, or is declared, unconditional or the date offer is accepted by the shareholder if at that time the offer is unconditional. No offer will be made for Finders Resources' options. The transaction shall be funded through cash reserves of $96 million (approximately AUD 120 million) and undrawn commitments under existing line of credit of $40 million (AUD 51.54 million). PT Merdeka Copper Gold is currently negotiating with its lenders to permit a further $40 million (AUD 51.54 million) to be drawn down to fund the balance of its portion. As March 11, 2019, Provident Capital Partners Pte. Ltd., PT Saratoga Investama Sedaya and PT Merdeka Copper Gold will have the right to compulsory acquire outstanding Finders shares at the offer price. Provident Capital Partners Pte., PT Saratoga Investama Sedaya and PT Merdeka Copper Gold intend to replace all members of the Board of Finders Resources with their own directors. Provident Capital Partners Pte., PT Saratoga Investama Sedaya and PT Merdeka Copper Gold will conduct a strategic review of Finders Resources’ business and intend to evaluate the capabilities and fit of the existing Finders Resources employees. As of March 21, 2018, a supplementary bid was filed and acceptance for more than 50% has been received. Taurus SM Holdings does not intent to accept the offer at the current price. The offer is subject to Provident Capital Partners Pte. Ltd., PT Saratoga Investama Sedaya and PT Merdeka Copper Gold obtaining a relevant interest in more than 50% of Finders shares, Foreign Investment Review Board approval, third party consents and other limited customary conditions. The transaction is not subject to any funding information. Finders Resources directors will consider the terms of the offer, and the content of the bidder's statement (when received) and will advise Finders shareholders of their recommendation in due course. In the meantime, Finders shareholders are advised to take no action in relation to offer. The Board of Directors of Provident Capital Partners Pte., PT Saratoga Investama Sedaya and PT Merdeka Copper Gold unanimously approved the transaction. On October 24, 2017, independent Directors of Finders Resources reiterated their recommendation that Finders Resources shareholders take no action in relation to the offer at this stage. As on December 5, 2017, Finders Resources unanimously recommend the shareholders to reject the offer since it’s an inadequate offer. On December 12, 2017, shareholders representing 33.19% do not intend to accept the Takeover Offer. On December 13, 2017, further shareholders representing 39.58% do not intend to accept the Takeover Offer. On December 15, 2017, Finders shareholders have resoundingly rejected the offer since the offer opened on November 20, 2017. Provident Capital Partners, PT Saratoga Investama Sedaya and PT Merdeka Copper Gold had not received one single acceptance of its offer, and Finders shareholders representing 38.21% of Finders shares in aggregate have now notified Finders that they do not intend to accept the offer at the offer price of AUD 0.23 per Finders share. The independent directors unanimously recommend that Finders shareholders continue to reject the offer by taking no action. As of February 14, 2018, the offer became unconditional and Provident Capital Partners Pte. Ltd., PT Saratoga Investama Sedaya and PT Merdeka Copper Gold hold 24.91% stake in Finders Resources. A sub-committee of the Board comprising the independent directors Gary Comb, Barry Cahill and Gordon Galt is to advise Finders Resources Limited in the transaction. The tender offer is expected to close on December 20, 2017. The offer period has been extended to January 19, 2018. As on January 9, 2018, offer period extended to February 28, 2018. As on February 23, 2018, offer period is extended to March 16, 2018. As on March 8, 2018, the offer period is extended to March 23, 2018. As on March 15, 2018, the offer period has been extended to March 30, 2018. As on March 13, 2018, the Takeover Panel has declined to conduct proceedings. As of March 19, 2018, Board of Directors of Finders Resources recommended shareholders to accept the offer. As on March 29, 2018, the offer period has been extended to April 4, 2018. As on April 4, 2018, the offer period has been extended to April 6, 2018. As on April 6, 2018, the offer period has been extended to April 10, 2018. As of April 10, 2018, the offer period has been extended to April 12, 2018. As on April 12, 2018, the offer period has been extended to April 16, 2018. As on April 16, 2018, the offer period has been extended to April 17, 2018. As on April 17, 2018, the offer period has been extended to April 18, 2018. As on April 18, 2018, offer period has been extended to April 20, 2018. As of April 23, 2018, the offer period has been extended to April 26, 2018. As of April 26, 2018, offer period has been extended to April 30, 2018. As of April 30, 2018, offer period has been extended to May 2, 2018. As of May 2, 2018, offer period has been extended to May 4, 2018. As of May 4, 2018, offer period has been extended to May 8, 2018. As of May 8, 2018, offer period has been extended to May 10, 2018. As of May 10, 2018, offer period has been extended to May 14, 2018. As of May 14, 2018, the offer period has been extended to May 15, 2018. As of May 15, 2018, offer period has been extended to May 17, 2018. As of May 17, 2018, offer period has been extended to May 21, 2018. As of May 21, 2018, offer period has been extended to May 23, 2018. As of May 23, 2018, offer period has been extended to May 25, 2018. As of May 25, 2018, the offer period has been extended to May 28, 2018. As of May 28, 2018, the offer period has been extended to May 30, 2018. As of May 30, 2018, the offer period has been extended to June 1, 2018. As of June 1, 2018, the offer period has been extended to June 5, 2018. As of June 5, 2018, the offer period has been extended to June 7, 2018. As of June 7, 2018, the offer period has been extended to July 6, 2018. As of July 6, 2018, the offer period has been extended to July 16, 2018. As of July 16, 2018, the offer period has been extended till August 13, 2018. As of August 13, 2018, offer period has been extended to September 25, 2018. As of September 25, 2018, offer period has been extended to November 19, 2018. As of November 19, 2018, the offer period is extended till November 26, 2018. As on November 26, 2018, the offer period will end at 7.00pm (Perth time) on November 26, 2018. As per fifth supplementary bidder’s statement dated November 26, 2018, Australian Securities and Investments Commission had granted Provident Capital Partners, PT Saratoga Investama Sedaya Tbk and PT Merdeka Copper Gold a modification to permit them to extend its offer beyond the usual 12 month period (subject to certain conditions). As March 11, 2019, the offer period will end on April 5, 2019. Provident Capital Partners Pte. Ltd., PT Saratoga Investama Sedaya Tbk (IDX:SRTG) and PT Merdeka Copper Gold Tbk (IDX:MDKA) completed the acquisition of remaining 80.16% stake in Finders Resources Limited (ASX:FND) from Resource Capital Funds, Acorn Capital Limited, Taurus SM Holdings Pty Limited and others on April 5, 2019. As on May 2, 2019, Eastern Field Developments Limited has decided to exercise its right of compulsory acquisition and it will pay AUD 0.23 for each compulsorily acquired shares. Phil Retter of NWR Communications and Andrew Rowell and Peter Klinger of Cannings Purple acted as public relations advisors in the transaction. Argonaut Limited acted as the financial advisor and Iffla Wade acted as the legal advisor to Provident Capital Partners Pte. Ltd., PT Saratoga Investama Sedaya Tbk and PT Merdeka Copper Gold Tbk. Ashurst Australia acted as legal advisors, Salient Corporate acted as corporate advisor and Deloitte Corporate Finance Pty Limited acted as independent expert for Finders Resources.


ę S&P Capital IQ 2019
All news about PT SARATOGA INVESTAMA SEDAYA TBK
09/20PT SARATOGA INVESTAMA SEDAYA TBK(IDX : SRTG) added to S&P Global BMI Index
CI
09/10PT Lingkar Niaga Solusindo announced that it has received $36 million in funding from O..
CI
09/06PT SARATOGA INVESTAMA SEDAYA TBK : Nomura Starts Saratoga Investama Sedaya at Buy With 2,7..
MT
07/27Pt Saratoga Investama Sedaya Tbk Reports Earnings Results for the Half Year Ended June ..
CI
04/30PT Saratoga Investama Sedaya Tbk Reports Earnings Results for the First quarter Ended M..
CI
03/08Pt Saratoga Investama Sedaya Tbk Reports Earnings Results for the Full Year Ended Decem..
CI
2020Pt Saratoga Investama Sedaya Tbk Reports Earnings Results for the Nine Months Ended Sep..
CI
2020Pt Saratoga Investama Sedaya Tbk Reports Earnings Results for the First Quarter Ended M..
CI
2019Tranche Update on PT Saratoga Investama Sedaya Tbk's Equity Buyback Plan announced on J..
CI
2019Pt Saratoga Investama Sedaya Tbk Reports Earnings Results for the Nine Months Ended Sep..
CI
More news
Analyst Recommendations on PT SARATOGA INVESTAMA SEDAYA TBK
More recommendations
Financials
Sales 2021 - - -
Net income 2021 14 035 B 0,98 B 0,98 B
Net Debt 2021 3 521 B 0,25 B 0,25 B
P/E ratio 2021 1,76x
Yield 2021 1,21%
Capitalization 24 514 B 1 715 M 1 716 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 60
Free-Float 11,9%
Chart PT SARATOGA INVESTAMA SEDAYA TBK
Duration : Period :
PT Saratoga Investama Sedaya Tbk Technical Analysis Chart | SRTG | ID1000127707 | MarketScreener
Technical analysis trends PT SARATOGA INVESTAMA SEDAYA TBK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 1 820,00 IDR
Average target price 2 790,00 IDR
Spread / Average Target 53,3%
EPS Revisions
Managers and Directors
Michael William P. Soeryadjaya President Director
Lany Djuwita Wong Finance Director
Edwin Soeryadjaya President Commissioner
Devin Wirawan Investment Director
Sidharta Utama Independent Commissioner
Sector and Competitors
1st jan.Capi. (M$)
PT SARATOGA INVESTAMA SEDAYA TBK165.31%1 715
INVESTOR AB (PUBL)30.18%68 794
CK HUTCHISON HOLDINGS LIMITED-5.27%25 261
HAL TRUST31.44%15 367
AB INDUSTRIVÄRDEN (PUBL)3.21%14 019
LIFCO AB (PUBL)58.11%13 052