MDKA - Affiliated transaction of IDR4.99 bn

MDKA - Affiliated transaction of IDR4.99 bn Merdeka Copper Gold (MDKA) has completed an affiliated transaction worth IDR4.99 bn. This transaction involves a conditional share purchase agreement between Merdeka Mining Indonesia (MMI), Pani Bersama Jaya (PBJ), and MDKA. Following the transaction's completion, PBJ will assume control of MMI, subject to meeting specified conditions. MDKA's management expects this transaction to improve efficiency and drive the development of heavy equipment leasing within MMI. This, in turn, is anticipated to boost MDKA's consolidated revenue and profits. MMI and PBJ are both controlled companies of MDKA. MDKA directly holds a 70.05% stake in PBJ, and it owns 99.99% of MMI's shares directly and indirectly. Additionally, some members of PBJ's BOD and/or BOC also hold positions on MDKA's Board of Directors. (Source: Kontan)