Gallant Venture

Gallant Venture: Group is offering Rp5,426 (S$0.695) for each PT Indomobil Sukses Internasional Tbk (IMAS) share that it does not already own, following its Rp78.5tn (S$10m) acquisition of a 52.35% stake in the Indonesia-listed automotive group. The offer price is slightly higher than the acquisition price of Rp5,420 per share. It is also the average of the highest daily traded price of IMAS shares on the Indonesia Stock Exchange on each trading day from Sept 28 to Dec 26, 2012. Gallant will begin its tender offer from 9.30am on Tuesday (Western Indonesian Time). The offer will end on July 24, 2013 at the latest.