IEV Hldgs

IEV Hldgs: Has sold 58% of IEV Energy to Altfield, a co owned by several Indonesian businessmen for $7.6m. IEV Energy owns 95% of PT IEV Pabuaran KSO which is the company in charge of developing the Pabuaran Blk in West Java. Co is of the view that the offer was fair given the upfront risk and potential of the development. Net tangible assets per share will increase from 17.45c to 21.62c. EPS will rise from 3.12c to 8.10c The book value of the shares is approx $455.4k and the net gain is approx $7.2m.