Jakarta. Gold miner Amman Mineral Internasional (AMMN) announced on Tuesday a significant share transfer as part of an estate planning exercise for its President Director, Alexander Ramlie.

A total of 102.87 million lots of AMMN shares were traded at Rp 1,695 per share, amounting to Rp 17.43 trillion ($1.06 billion), significantly below the regular market price of Rp 11,050 per share.

The management of AMMN clarified that the share transfer was conducted in compliance with capital market regulations. The move is intended to facilitate the estate planning of Alexander Ramlie, rather than a sale to third parties.

Prior to the transfer, Alexander Ramlie held his AMMN shares indirectly through two entities: Sembilan Sembilan Sempena (SSS) and Alpha Investasi Mandiri (AIM).

On Tuesday. AIM transferred AMMN shares to Alexander Ramlie, Thomas Ramlie, and Charles Daniel Gobel, reflecting their proportional ownership through SSS and AIM.

The distribution of shares was as follows: Alexander Ramlie received 5.13 billion shares, Thomas Ramlie 8.57 million shares, and Charles Daniel Gobel 17.19 million shares

Following the transaction, Alexander Ramlie will transfer his shares to foreign entities he controls for estate planning purposes. SAJIR 9 LLC will receive 4.19 billion shares, Miracle Milestone Limited 607.5 million shares, Fennel Field LLC: 337.5 million shares

AMMN's management emphasized that this restructuring is strictly for estate planning and does not constitute a sale to external parties.

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