Jakarta - PT Indika Energy Tbk (INDY) through PT Indika Mineral Investindo (IMI) has taken over all of the issued and paid-up capital of Nusantara Resources Limited (NUS) through a scheme of arrangement mechanism on October 6, 2021.

"This is a strategic step for the company as one of its diversification strategies," said Indika Corporate Secretary Adi Pramono in the IDX information disclosure, Wednesday (6/10).

NUS shareholders approved the completion of this transaction on September 22, 2021, and court approval in Australia on September 24, 2021.

IMI has paid AUD 0.35 per share for 168.04 million shares for a total value of AUD 58.81 million.

NUS is no longer listed on the Australian Stock Exchange upon completion of the transaction, effective at the close of trading on October 7, 2021.