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20260625_PZZA_Informasi Transaksi Afiliasi_32104302_lamp2.pdf
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INFORMATION DISCLOSURE FOR THE PUBLIC
IN RELATION TO AFFILIATED PARTY TRANSACTION OF
PT SARIMELLATI KENCANA TBK
THIS INFORMATION DISCLOSURE TO THE PUBLIC ("INFORMATION DISCLOSURE") IS
PROVIDED IN ORDER TO FULFIL THE PROVISIONS OF: (A) OJK REGULATION NO.
42/POJK.04/2020 REGARDING AFFILIATED TRANSACTIONS AND CONFLICT OF
INTEREST TRANSACTIONS ("POJK 42/2020") AND (B) OJK REGULATION NO.
31/POJK.04/2015 REGARDING DISCLOSURE OF INFORMATION OR MATERIAL FACTS BY
ISSUERS OR PUBLIC COMPANIES ("POJK 42/2020"). 31/POJK.04/2015 REGARDING
DISCLOSURE OF INFORMATION OR MATERIAL FACTS BY ISSUERS OR PUBLIC
COMPANIES ("POJK 31/2015").
PT SARIMELATI KENCANA TBK
(“COMPANY")
Based in South Jakarta
Business fields:
Engaged in providing accommodation and
providing food and beverage
Headquarters
Jl. Jend. Gatot Subroto Kav. 1000 Menteng Dalam,
Tebet, South Jakarta, 12870, Indonesia
Telephone: (021) 5096 6789
Official website: www.sarimelatikencana.co.id
This Disclosure of Information contains information regarding the transaction for the Partial
Subscription of New Shares by PT Sarimelati Kencana Tbk (the “Company”/”PZZA”) in PT Halal
Artisan Yummies (“HAY”) with each share having a nominal value of Rp1,000,000,- (one million
Rupiah), with a maximum investment value of Rp10,400,000,000 (ten billion four hundred million
Rupiah) representing 52.00% of the total shares in HAY (the “Transaction”). The Transaction is
expected to broaden the Company’s sources of revenue beyond the pizza business, whilst
simultaneously reducing dependence on a single core product category. In addition, the Transaction
is expected to provide additional contribution to the Company’s future revenue growth and
strengthen PZZA’s position within Indonesia’s continuously growing Food and Beverage (“F&B”)
industry.
Through this Information Disclosure, the Company explains that this Transaction is:
1. is an Affiliated Party Transaction as referred to in Article 1 paragraph (3) of OJK Rule 42/2020
that does not contain a Conflict of Interest as referred to in OJK Rule 42/2020;
2. it does not constitute a Material Transaction as referred to in Article 3 paragraph (1) of POJK
17/2020, with the transaction value being less than 20% of the Company’s equity, whereby
based on the fairness opinion of the transaction conducted by Public Appraisal Service Office
Yanuar, Rosye and Partners (“KJPP Y&R”), the value of the Transaction amounts to
Rp10,400,000,000 (ten billion four hundred million Rupiah). The percentage of the transaction
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value to equity is 1.01% of the Company’s equity amounting to Rp1,033,725,202,665 (one
trillion thirty-three billion seven hundred twenty-five million two hundred two thousand six
hundred sixty-five Rupiah) based on the Company’s Financial Statements for the year ended
December 31st, 2025, which have been audited by Public Accounting Firm Amir Abadi Jusuf,
Aryanto, Mawar & Partners; and
3. contains material information or facts which may affect the securities trading price of the
Company on the Indonesia Stock Exchange ("IDX") or the investment decision of investors,
potential investors or any other parties who may have interest on such information or facts
("Material Information"), as referred to in Article 1 of OJK Rule 31/2015.
In conclusion, in order to carry out the Transaction, the Company is not required to (i) obtain
approval from the General Meeting of Shareholders (“GMS”); however, in accordance with the
prevailing regulations, the Company is required to: (i) engage an Appraiser to determine the fair
value of the object and/or the fairness of the transaction, and (ii) announce the Disclosure of
Information to the public regarding the Transaction and submit the supporting documents to the OJK
no later than 2 (two) working days after the date of the Affiliated Transaction.
If you have difficulty understanding this Disclosure of Information or are in doubt about making a
decision, you should consult an investment advisor or other professional advisor.
This Disclosure of Information is published on 25 June 2026
FOREWORD
This Disclosure of Information is made to comply with the provisions of OJK Rule 17/2020, OJK
Rule 42/2020 and OJK Rule 31/2015.
I. BRIEF DESCRIPTION OF PARTIES IN THE TRANSACTION
A. Brief Description of the Company
1. Brief History of the Company
PT Sarimelati Kencana Tbk (the “Company”) was established pursuant to Notarial Deed No.
132 dated 16 December 1987, drawn up before Lieke Lianadevi Tukgali, S.H., Notary. The
deed of establishment was approved by the Minister of Justice of the Republic of Indonesia
pursuant to Decree No. C2-4573.HT.01.01.TH.88 dated 25 May 1988 and was published in
State Gazette No. 1388 Supplement No. 102 dated 20 December 1988.
The Company’s Articles of Association have been amended from time to time. The latest
amendment by Deed of Statement of Resolutions of the Meeting regarding Amendment to
the Articles of Association No. 75, drawn up before Aulia Taufani, S.H., dated 20 November
2025, concerning amendments to and the scope of the Company’s business activities. Such
amendment has been recorded in the Legal Entity Administration System database of the
Ministry of Law and Human Rights of the Republic of Indonesia pursuant to Decree No. AHU-
0270963.AH.01.11.Tahun 2025 dated 27 November 2025.
The Company listed its shares on the Indonesia Stock Exchange through an Initial Public
Offering conducted in 2018 under the stock code “PZZA”.
The Company’s head office is located at Jl. Jend. Gatot Subroto, Kav. 1.000, Tebet, South
Jakarta 12870, Indonesia.
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2. Composition of Share Capital and Shareholding
The current capital structure of the Company is as follows:
Information Number of Shares Nominal Value Total Nominal Value
per Share (Rp)
(Rp)
Authorised Capital 9,000,000,000 100 900,000,000,000
Issued and Paid-up Capital 3,021,875,000 100 302,187,500,000
The composition of the Company’s shareholders based on the Register of Shareholders
maintained by the Securities Administration Bureau, PT Datindo Entrycom, as at December
31st, 2025 and up to the present date, is as follows:
Description Number of Shares Percentage of Total
Ownership
PT Sriboga Raturaya 1,957,933,250 65.15% 195,793,325,000
JPMCB NA AIF CLT RE 211,533,000 7.04% 21,153,300,000
DBS Bank Ltd. S/A 290,000,000 9.65% 29,000,000,000
Jeo Sasanto (Direktur) 7,900,000 0.26% 790,000,000
Masyarakat 538,124,450 17.90% 53,812,445,000
Treasury Stock 16,384,300 0.00% 1,638,430,000
Total Authorised and Fully Paid-up Capital 3,021,875,000 100.00% 302,187,500,000
3. Board of Commissioners and Board of Directors of the Company
The current composition of the Company’s Voard of Commissioner and Board of Directors is
as follows:
Board of Commissioners
President Commissioner & : Brata Taruna Hardjosubroto
Independent Commissioner
Commissioner
Commissioner : Hadian Iswara
Commissioner : Stephen James McCharty
Board of Directors
President Director : Boy Ardhitya Lukito
Director : Jeo Sasanto
Director : Budi Setiawan
4. Business Activities of the Company
Pursuant to Article 3 of the Company’s Articles of Association, the purposes and objectives,
as well as the business activities of the Company, are to carry out its principal business
activities in the fields of accommodation services and food and beverage services.
B. Brief Description of HAY
1. Establishment of HAY
HAY was established on 27 August 2025 pursuant to Deed of Establishment No. 17 dated 27
August 2025, drawn up before Mira Dewi Miriam, S.H., Notary in Depok City, which obtained
approval from the Minister of Law of the Republic of Indonesia pursuant to Decree No. AHU-
0075441.AH.01.01 Tahun 2025, and was registered in the Company Register under No.
AHU-0205882.AH.01.11 Tahun 2025 dated 3 September 2025.
HAY is domiciled at Jalan Jenderal Gatot Subroto Kav. 1.000, Menteng Dalam Sub-District,
Tebet District, South Jakarta 12870.
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2. Composition of Share Capital and Shareholding
The current composition of HAY’s shareholders is as follows:
No. Name of Shareholder Number of Total Paid-up Capital Percentage of
Shares Ownership
1 BOY ARDHITYA LUKITO 600 600,000,000 50.00%
2 PT YUMMYFOOD UTAMA 600 600,000,000 50.00%
TOTAL 1,200 1,200,000,000 100.00%
3. Board of Commissioners and Board of Director of HAY
The current composition of HAY’s Board of Commissioners and Director is as follows:
President Commissioner : Boy Ardhitya Lukito
Commissioner : Sri Nurfiani
Director : Dwi Rendra Jaya
4. Business Activities of HAY
Pursuant to Article 3 of HAY’s Deed of Establishment, the purposes and objectives of HAY
are to carry out its principal business activities in the fields of accommodation services and
food and beverage services.
II. DESCRIPTION OF THE TRANSACTION
A. Transaction
This transaction constitutes a partial subscription of new shares by PZZA in HAY, with each
share having a nominal value of Rp1,000,000 (one million Rupiah), amounting to a maximum
investment value of Rp10,400,000,000 (ten billion four hundred million Rupiah), representing
52.00% of the total shares in HAY.
The transaction involving the subscription of new share capital in HAY amounting to 52.00%
of the total issued share capital of HAY is deemed to constitute an affiliated transaction due
to the existence of an affiliation through common management serving in each company,
namely Mr. Boy Ardhitya Lukito, who serves as President Director of PZZA and President
Commissioner of HAY.
The value of the capital contribution in respect of a portion of the new shares was determined
pursuant to Deed No. 17 dated 15 June 2026, drawn up before Mira Dewi Miriam, S.H., a
Notary in Depok City. The said Deed was approved by the Minister of Law of the Republic of
Indonesia pursuant to Decree No. AHU-0040785.AH.01.02.TAHUN 2026 and recorded in the
Company Register under No. AHU-0137374.AH.01.11.TAHUN 2026, both dated 24 June
2026. The Deed has also received the Minister of Law of the Republic of Indonesia's
acknowledgement of the notification of the amendment to the Articles of Association pursuant
to Decree No. AHU-AH.01.03-0176392 dated 24 June 2026, as well as the acknowledgement
of the notification of the amendment to the Company's Data under No. AHU-AH.01.09-
0345986 dated 24 June 2026.
B. Transaction Value
PZZA will make a capital contribution to HAY resulting in a 52.00% ownership interest, with a
transaction value of Rp10,400,000,000 (ten billion four hundred million Rupiah). The
Transaction value represents 1.01% of the Company’s equity amounting to
Rp1,033,725,202,665 (one trillion thirty-three billion seven hundred twenty-five million two
hundred two thousand six hundred sixty-five Rupiah), based on the Company’s financial
statements for the period ended December 31st, 2025, which have been audited by the Public
Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar & Partners.
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C. Nature of the Affiliated Relationship
The following management structure of the Company illustrates the affiliated relationship
between the Company and HAY:
Name PZZA HAY
Brata Taruna President Commissioner -
Hardjosubroto & Independent
Commissioner
Hadian Iswara Commissioner -
Stephen James McCarthy Commissioner -
Boy Ardhitya Lukito President Director President Commissioner
Jeo Sasanto Director -
Budi Setiawan Director -
Sri Nurfiani - Commissioner
Dwi Rendra Jaya - Director
Based on the management structure, it is known that as of December 31st, 2025 there exists
an affiliated relationship between PZZA and HAY through common management. In this
regard, Mr. Boy Ardhitya Lukito serves as President Director of PZZA and President
Commissioner of HAY.
Referring to the provisions of Article 1 of POJK 42 of 2020, an affiliated relationship includes
the existence of common members of the Board of Directors or Board of Commissioners in
two companies. Accordingly, such management relationship satisfies the affiliation criteria as
referred to in the said regulation, and therefore the Proposed Transaction constitutes a
transaction subject to the provisions of POJK 42 of 2020 concerning Affiliated Transactions
and Conflict of Interest Transactions.
III. TRANSACTION CONSIDERATIONS AND REASONS AND ITS EFFECT ON THE
COMPANY'S FINANCIAL CONDITION
I. Consideration and Reason for the Exercise of the Transaction x`
The Company views the capital contribution to HAY as a strategic step to expand its market
network while strengthening the Company’s position in the food and beverage industry. With
PZZA becoming the majority shareholder, this transaction is expected to support long-term
growth through more focused business development. In addition, the transaction is also
projected to create business synergies between PZZA and HAY, particularly in relation to
halal product diversification and culinary innovation. The 52% ownership interest will provide
strategic control for PZZA to direct the business development of HAY, thereby strengthening
competitiveness and expanding business opportunities in the food and beverage sector.
II. Transaction's Effect on the Company's Financial Condition
The value of the capital contribution made by PZZA to HAY amounting to Rp10.4 billion
represents only 1.01% of PZZA’s equity as of December 31st, 2025, and therefore does not
meet the criteria of a material transaction under POJK 17/2020. Accordingly, the financial
impact on PZZA’s equity structure and financial position is relatively insignificant.
Furthermore, the transaction is expected to provide long-term benefits through business
development and the expansion of market networks, thereby improving the Company’s
operational performance and cash flow. The financial projections prepared by the Company
indicate that following the transaction, PZZA’s financial ratios will remain in a healthy condition
and will not create significant liquidity pressure. This is in line with the purpose of the
transaction, which is intended to support business growth without imposing an excessive
financial burden.
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III. Consideration and Reason for the Entrance into the Transaction with Affiliated Party
Compared to a Similar Transaction if Entered into with a Non-Affiliated Party
The Company believes that carrying out the Transaction with an Affiliated Party is more
beneficial to shareholders than conducting a similar transaction with a Non-Affiliated Party
due to the shorter implementation period and greater efficiency, including but not limited to
the existence of strategic control, alignment of interests, and the potential for stronger
business synergies.
A similar transaction with a Non-Affiliated Party may require a longer implementation period,
which could in turn adversely affect the Company’s business activities.
IV. SUMMARY OF INDEPENDENT APPRAISER'S REPORT AND OPINION
To ensure the fairness of the Transaction, the Company has engaged an independent appraiser
registered with the OJK, namely KJPP Y&R, an official Public Appraisal Firm holding Business Licence
No. 2.20.0170 pursuant to the Decree of the Minister of Finance No. 365/KM.1/2020 dated 27 July 2020,
and registered as a capital market supporting profession with the OJK under Capital Market Supporting
Profession Registration Certificate (STTD) No. STTD.PB-37/PJ-1/PM.02/2023, to provide a fairness
opinion on the Transaction.
In preparing this fairness opinion report, KJPP Y&R acted independently without any conflict of interest
and is not Affiliated with the Company or any parties Affiliated with the Company. KJPP Y&R also has no
personal interest or benefit in relation to this engagement.
The following is a summary and opinion of KJPP Y&R regarding the Proposed Transaction based on
Report No. 00038/2.0170-00/BS/04/0044/1/VI/2026 dated April 24th, 2026.
A. Parties to the Proposed Transaction
The parties involved in the Proposed Transaction are the Company and HAY.
B. Object of Fairness Opinion Analysis
The object of the Fairness Opinion is the proposed capital contribution by PZZA to HAY resulting
in a 52.00% ownership interest.
C. Objective and Purpose of Fairness Opinion
The purpose of the report is to provide a fairness opinion on the Proposed Transaction in the
form of a capital contribution by PZZA to HAY resulting in a 52.00% ownership interest.
The objective of this Fairness Opinion is to fulfil capital market requirements in relation to POJK
42/2020.
This fairness opinion is not intended to be used outside the context or purpose of such fairness
opinion.
D. Assumptions and Limiting Conditions Used in the Fairness Analysis
Assumptions
• Y&R has issued a Fairness Opinion Report in the form of a non-disclaimer opinion.
• Y&R has reviewed the documents used in the preparation of the Fairness Opinion Report.
• The data and information obtained were derived from sources considered reliable and
accurate.
• The engaging party has represented that all material information relating to the fairness
opinion engagement has been fully disclosed to Y&R and that no omission has been made
of any material facts.
• Y&R has used adjusted financial projections reflecting the reasonableness of the financial
projections prepared by management and their achievability (fiduciary duty).
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• Y&R is responsible for the preparation of the Fairness Opinion and the reasonableness of
the adjusted financial projections.
• Y&R has issued a Fairness Opinion Report open to the public, except for confidential
information that may affect the operations of PZZA.
• Y&R is responsible for the Fairness Opinion Report and the valuation conclusions contained
therein.
• Y&R has obtained information regarding the legal status of the object of the fairness opinion
from the engaging party.
• This Fairness Opinion Report is intended solely to fulfil capital market requirements and
compliance with OJK regulations.
• This Fairness Opinion Report has been prepared based on market and economic conditions,
general business and financial conditions, and Government regulations relating to the
Proposed Transaction as of the date of issuance of this opinion.
• In preparing this Fairness Opinion Report, Y&R has used several assumptions, including the
fulfilment of all conditions and obligations of PZZA and all parties involved in the Proposed
Transaction, as well as the accuracy of information regarding the Proposed Transaction
disclosed by the management of PZZA.
• Y&R assumes that PZZA will continue as a going concern and will be managed by
professional and competent management.
• This Fairness Opinion Report must be viewed as a whole, and the use of only part of the
analysis and information without considering the entirety of the information and analysis may
result in misleading views and conclusions regarding the process underlying the fairness
opinion. The preparation of this Fairness Opinion Report is a complex process and may not
be properly understood through incomplete analysis.
• Y&R also assumes that from the date of issuance of this Fairness Opinion Report until the
date of the Proposed Transaction, no changes will occur that may materially affect the
assumptions used in preparing this Fairness Opinion Report. Y&R assumes no responsibility
to reaffirm, supplement, or update its opinion due to changes in assumptions, conditions, or
events occurring after the date of this fairness opinion.
Limiting Conditions
• Y&R did not conduct a due diligence process on the entities or parties involved in the
Proposed Transaction.
• In conducting the analysis, Y&R has assumed and relied upon the accuracy, reliability, and
completeness of all financial information and other information provided by PZZA or publicly
available, which are presumed to be true, complete, and not misleading, and Y&R assumes
no responsibility to independently verify such information. Y&R has also relied upon
representations from the management of PZZA that they are not aware of any facts that
would render the information provided incomplete or misleading.
The analysis in this Fairness Opinion Report regarding the Proposed Transaction has been
prepared using the data and information disclosed above. Any changes to such data and
information may materially affect the final opinion of Y&R. Accordingly, Y&R assumes no
responsibility for any change in the conclusions of this Fairness Opinion Report resulting
from changes in such data and information.
• Y&R does not provide any opinion regarding the tax implications of the Proposed
Transaction. The services rendered to PZZA in connection with the Proposed Transaction
are limited to the provision of a Fairness Opinion on the Proposed Transaction and do not
constitute accounting, audit, or tax services. Y&R has not examined the legality of the
Proposed Transaction from a legal perspective nor the tax implications arising from the
Proposed Transaction.
• The work relating to the Proposed Transaction does not constitute, and should not be
construed in any form as, a review, audit, or the performance of agreed procedures on
financial information. Such work is also not intended to identify weaknesses in internal
controls, errors, irregularities in financial statements, or violations of law. Furthermore, Y&R
does not have the authority nor is it in a position to obtain and analyse any other forms of
transactions outside the Proposed Transaction that may be available to PZZA and the effects
of such transactions on the Proposed Transaction.
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E. Proposed Transaction Fairness Assessment Methodology
The fairness opinion approaches and methods used in preparing this report refer to the Financial
Services Authority Regulation of the Republic of Indonesia No. 35/POJK.04/2020 concerning
Business Valuation and Presentation of Business Valuation Reports in the Capital Market (“POJK
35 of 2020”) and Financial Services Authority Circular Letter of the Republic of Indonesia No.
17/SEOJK.04/2020 concerning Guidelines for Business Valuation and Presentation of Business
Valuation Reports in the Capital Market (“SEOJK 17 of 2020”), pursuant to which the Appraiser
is required to conduct, at a minimum, the following analyses:
• Analysis of the Proposed Transaction in relation to the background, basis, object, source of
funds, and business considerations used by PZZA;
• Qualitative and quantitative analyses of the Proposed Transaction;
• Analysis of the fairness of the value of the Proposed Transaction to be carried out; and
• Analysis of other relevant factors.
F. Conclusion and Opinion on the Fairness of the Proposed Transaction
• Through the Proposed Transaction, PZZA is expected to expand the Company’s sources of
revenue beyond PZZA’s core business, while reducing dependence on a single main product
category. In addition, diversification into the frozen yoghurt segment has the potential to
contribute additional revenue growth in the future and strengthen PZZA’s position within
Indonesia’s continuously growing F&B industry.
• The Proposed Transaction is expected to have a positive impact on the financial condition
and business prospects of PZZA. Added value is expected to be generated through the
addition of product types offered for sale, which are projected to perform well. The Proposed
Transaction also represents a strategic step for PZZA in expanding its business activities.
• Based on the valuation results, the Market Value of the object of the Proposed Transaction
amounts to Rp983,529, while the Transaction Value to be carried out by PZZA amounts to
Rp1,000,000 per share for the acquisition of 10,400 shares.
Accordingly, the Proposed Transaction Value is above the Market Value by Rp16,471, or
approximately 1.67% of the Market Value. Such difference remains within the permissible
range under OJK regulations, namely not exceeding the tolerance threshold of 7.5% of the
reference value.
• With respect to risks, there is a potential risk of management focus being diverted from the
core Pizza Hut business, which may create a risk of cannibalisation of customer visit time,
notwithstanding the different product categories.
Based on the analysis of the Proposed Transaction, the qualitative and quantitative analyses, the
analysis of the fairness of the Proposed Transaction value, as well as the review of the data and
information obtained and used as disclosed in this Fairness Opinion Report, we are of the opinion that
the Proposed Transaction is FAIR.
V. STATEMENT OF THE BOARD OF DIRECTORS AND BOARD OF COMMISSIONERS
1. The Board of Directors and Board of Commissioners of the Company state that the
Transaction is an Affiliated Party Transaction and does not contain a Conflict of Interest as
referred to in OJK Rule 42/2020.
2. The Board of Directors and the Board of Commissioners of the Company declare that the
Transaction is not constitutes a Material Transaction which does not require approval from
the GMS for its implementation as referred to in POJK 17/2020.
3. The Board of Directors and the Board of Commissioners of the Company are responsible for
the accuracy of all information contained in this Disclosure of Information, and after careful
examination of available information relating to the Transaction, hereby declare that to the
best of their knowledge and confidence, there is no other important and material information
relating to the Transaction that is not disclosed in this Disclosure of Information that could
cause this Disclosure of Information to be untrue and/or misleading.
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VI. ADDITIONAL INFORMATION
Should the Shareholders need further information, they may contact the Company at:
PT SARIMELATI KENCANA TBK
Headquarters
Jl. Jend. Gatot Subroto Kav. 1000 Menteng Dalam,
Tebet, South Jakarta, 12870, Indonesia
Telepon: (021) 5096 6789
Attn.: Corporate Secretary
Email: corsec@sarimelatikencana.co.id
Official website: www.sarimelatikencana.co.id
Yours faithfully,
Board of Directors of the Company
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Names mentioned 31 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Halal Artisan Yummies
p.1
unresolved
org
Mawar & Partners
p.2 ×2
unresolved
org
Indonesia Stock Exchange
p.2 ×2
unresolved
person
Lieke Lianadevi Tukgali
· Notaris
p.2
unresolved
org
Minister of Justice
p.2
unresolved
person
Aulia Taufani
p.2
unresolved
org
Ministry of Law and Human Rights
p.2
unresolved
org
PT Datindo Entrycom
p.3
unresolved
person
Mira Dewi Miriam
· Notaris
p.3 ×3
unresolved
org
Minister of Law
p.3 ×3
unresolved
org
PT YUMMYFOOD
p.4
unresolved
org
PT YUMMYFOOD UTAMA
p.4
unresolved
person
Boy Ardhitya Lukito
p.4 ×3
unresolved
—
Hardjosubroto
p.5
unresolved
—
Stephen James McCarthy
p.5 ×3
unresolved
—
Sri Nurfiani
p.5
unresolved
—
Dwi Rendra Jaya
p.5
unresolved
org
Minister of Finance
p.6
unresolved
org
Financial Services Authority
p.8 ×2
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
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confidence 0.091
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12 Sep 2026 22:03
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