Pine Capital has entered into a Share Purchase Agreement with the shareholders of Story-I Pte Limited to acquire all of the issued capital in Story-I for a consideration of $22,224,742, which is to be satisfied by the issue of 111,123,708 shares in Pine.
Story-I owns 95% PT INetindo Infocom, a company incorporated in Indonesia. PT INetindo Infocom is an established and profitable consumer electronics retailer in Indonesia, currently operating 12 stores. Of these, there are eight Apple stores, three SYNC stores and a Lenovo store.
Story-I owns 95% PT INetindo Infocom, a company incorporated in Indonesia. PT INetindo Infocom is an established and profitable consumer electronics retailer in Indonesia, currently operating 12 stores. Of these, there are eight Apple stores, three SYNC stores and a Lenovo store.
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