SINGAPORE – PT Aneka Samudera Lintas (PT Aneka), subsidiary of Manhattan Resources Limited, will enter into a lease arrangement with PT Pelayaran Segara Niaga Utama (PT PSNU) where PT PSNU will lease the Vessels to PT Aneka at prevailing market rates, which will be negotiated at arm’s length and arrived at on a willing-buyer and willing-seller basis.
The whole arrangement from Novation to the Proposed Lease Arrangement will enable the Vessels to be registered in Indonesia and also enables PT Aneka to use the Vessels to fulfill its other contractual obligations.
On 14 August 2012, PT Aneka entered into a ship sale and purchase agreement (Ship Sale and Purchase Agreement)
with Teraoka Shoji Inc. to purchase (i) three units of D/W 2500T Coal Carrier Barge (Gravity Collect System) and G/T 19T Type Pusher Boat; and (ii) two units of D/W 8000T Coal Carrier Flat Barge and G/T 39T Type Pusher Boat (collectively the Vessels), for a purchase price of US$14,040,000.00, to be paid over five (5) installments.