General Announcement:: Proposed Disposal of Indonesian Business Assets by Direct Subsidiary

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2.2 The consideration will be paid by the Buyer in cash in two installments and is payable as follows:

(i) the first payment (or 80 percent of the consideration, or IDR 13.04 billion (approximately S $ 1.2 million)) will be paid by the buyer to the company within fourteen (14) days working days following receipt by the buyer of the corresponding invoice from the Company for the first payment; and

(ii) the second payment (either the remaining 20 percent of the consideration or the remaining amount of the adjusted consideration, as the case may be) will be paid by the Buyer to the Company on the date of completion.

3. FINANCIAL EFFECTS

3.1 Based on the latest unaudited consolidated financial statements of the Company for the period ended June 30, 2021, the carrying amount attributable to the Indonesian assets is IDR 585 million.

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NERA TELECOMMUNICATIONS LTD

(Registration No. 197802690R)

Incorporated in the Republic of Singapore

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PROPOSAL FOR THE SALE OF INDONESIAN BUSINESS ASSETS BY A DIRECT SUBSIDIARY

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1. INTRODUCTION

  1. The board of directors (the “Plank“) of Nera Telecommunications Ltd (the”Society“) would like to announce that its direct subsidiary, PT Nera Indonesia, entered into a sale and purchase agreement on September 8, 2021 to divest certain equipment and infrastructure, to cede receivables under certain operator agreements and to enter into these operator agreements and certain cooperation agreements (collectively, the “Indonesian assets“) to PT Dhost Telekomunikasi Nusantara (the”Buyer“) (the “Proposed elimination“).
  2. As each of the relative figures calculated on the relevant bases set out in Listing Rule 1006
    Manual (“Registration Manual“) of the Singapore Exchange Securities Trading Limited (“SGX-ST“) is less than 5%, the proposed divestiture is a” non-disclosable “transaction for the purposes of Chapter
    10 of the SGX-ST Listing Manual.

2. CONSIDERATION

2.1 The aggregate consideration for the proposed divestiture is IDR 16.3 billion (approximately S $ 1.5 million). The consideration was established on the basis of a willing buyer and a willing seller, after arm’s length negotiations taking into account the past profits attributable to the Indonesian assets for the last two years and the Indonesian assets not included. core business of the Company, the proposed sale will allow the company to rationalize and focus on its core business.

(approximately S $ 54,000) and the net property, plant and equipment attributable to Indonesian assets is IDR 153 million (approximately S $ 14,000).

3.2 The Proposed Disposal is not expected to have a significant impact on the Company’s net property, plant and equipment for the year ended December 31, 2021.

4. DIRECTORS

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect (other than through their interests in the Company, if applicable) in the proposed Sale.

BY ORDER OF THE COUNCIL

Chan Wan Mei and Chan Lai Yin

Joint company secretaries

September 8, 2021

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Disclaimer

Nera Telecommunications Ltd. published this content on September 08, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 08 September 2021 12:21:01 PM UTC.


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