The Board of Directors of Route Mobile (UK) (RML UK), a wholly-owned subsidiary of Route Mobile, has approved the acquisition 7,507,500 shares of IDR 1000/-, aggregating to IDR 7,507,500,000 of PT Route Mobile Indonesia (RM Indonesia), on 22 November 2024 to meet the local law requirements. Upon allotment of equity shares by RM Indonesia, the total investment of RML UK in RM Indonesia will be 99,99,990 shares, representing 99.90% of the total equity share capital in RM Indonesia.
RM Indonesia is involved in business of value-added technology services in the area of omni channel/ communication services.
The object of the investment is to meet the requirement of Indonesian Investment Law for a minimum paid-up capital of IDR 10,000,000,000 (ten billion Indonesian Rupiahs) for foreign-owned companies (PMA) registered in the country.