INGRS Increases Paid-Up Capital in Indonesia’s Subsidiary, Boosting Shareholding to 76%

Ingress Industrial (Thailand) Public Company Limited (INGRS) announced that the Boards of Directors’ Meeting held on 21st January 2021 has approved the increase in authorized and paid-up capital of PT Ingress Malindo Ventures (PT IMV) from IDR59,999,996,625 divided into 6,760,563 shares of IDR8,875 each to IDR99,999,994,375 divided into 11,267,605 ordinary shares of IDR8,875 each by way of issuance of 4,507,042 new shares of IDR8,875 each, amounting to IDR39,999,997,750. 

 

The purpose of increase in paid-up capital of PT IMV is for improvement of the net tangible assets of PT IMV. 

 

All New Shares shall be fully subscribed by Ingress Precision Sdn. Bhd (IPSB) at the price of IDR8,875 per share. IPSB is a 90% subsidiary of Ingress Industrial (Malaysia) Sdn. Bhd., a wholly owned subsidiary of INGRS. The minority shareholders of PT IMV, namely KK, Yonei and PT Tidar agree to provide their waiver for the subscription of the New Shares. Therefore, the shareholding structure of PT IMV after the increase of paid-up capital, IPSB will hold 76% of paid-up capital, up from 60%.