The business entity of PT Dian Swastatika Sentosa Tbk (DSSA), Golden Energy and Resources (GEAR) has sold as much as 4.5% of its share ownership in PT Golden Energy Mines Tbk (GEMS) to Ascend Global Investment Fund SPC.

"The share sale transaction will be carried out on March 30, 2021," said DSSA Corporate Secretary Susan Chandra in the IDX disclosure on Thursday (1/4).

According to him, GEAR is still the majority shareholder of GEMS with a percentage of 62.5%.

GEMS Corporate Secretary, Sudin added, the number of shares sold by GEAR on GEMS was 264,705,885 shares with an exercise price of Rp2,715 per share.

"The purpose of this transaction is to support GEMS in fulfilling the free float provisions so that the share trading process can return to normal on the Exchange," said the Sudin.