Asset Divestment

February 16, 2016 |    1241

Herewith submitted that on February 16th, 2016, PT. Sierad Produce Tbk ("Company") has signed an Asset Purchase Agreement with PT. Bumi Serpong Damai Tbk. in the form of plots of land, building and facilities, and the objects found on the land, which is owned, controlled and used by the Company in its business activities for the Farm, located in the village Kadusirung, Legok District, Tangerang, Banten Province.

The transfer of assets is carried out by the Company in order to comply with company's bio security , which is the asset's neighborhood has develop as a residential area. This corporate action is in line with the Company's plan for the future development of commercial farms in order to support the strategy of enlarging the processed food division of the Company.