JAKARTA, 30 November 2017 – PT Medco Energi Internasional Tbk (“MedcoEnergi” or the “Company”) is pleased to confirm it has obtained the final effective letter from the Otoritas Jasa Keuangan (OJK). The Company will now move ahead to offer existing shareholders preemptive rights to subscribe for one new share for every three existing shares held, with each new share receiving a detachable warrant to purchase a further share in the future (“the Offering”).

Approximately 4.40billion shares will be issued immediately with further 4.40billion shares issued if and when subscribing shareholders subsequently exercise their warrants. The new shares will have the same rights and characteristics as existing shares. This Offering will be available to all those registered as shareholders before December 8th, the ‘ex-rights date’.

The initial rights issue which is fully underwritten will raise IDR 2.64billion and will be completed within December 2017 with the proceeds being used for debt payment. The proceeds from the exercise of subsequent warrants will be used for working capital.

The subscription price of the new shares will be offered at IDR 600 per share and subscribing shareholders can exercise their warrants during one of three windows:
1. Between, 1 July 2018 – 31 December 2018, with an exercise price of IDR 625 per share.
2. Between, 1 January 2019 – 31 December 2019, with an exercise price of IDR 650 per share.
3. Between, 1 January 2020 – 11 December 2020, with an exercise price IDR of 675 per share.

Further details of the Offering are available in the Company’s prospectus filing and newspaper disclosures.

Hilmi Panigoro, President Director of MedcoEnergi, said that “This is a great opportunity for shareholders to exercise their rights and share in the company’s future success while also strengthening the Company’s capital structure.