Use of Proceeds from Public Offering of Bonds

The use of proceeds received by the Company from bonds, after deducting all relevant costs and certain expenses related to the public offering, is as follows:

  1. Approximately Rp20 billion was used as working capital to preserve, maintain and replace studio equipment of the Company, at locations in RCTI, MNCTV, GlobalTV and MNC Tower in Jakarta.
  2. The remaining proceeds were used for capital expenditures related to the development of media and associated media to streamline and improve synergies between business lines within the Company.

On December 31, 2014 , the entire fund had been used as it was purposed.