PT. Mulia Industrindo Tbk (MLIA) planned for repurchasing the shares of the Company that have been issued and listed in Indonesia Stock Exchange (IDX) with the amount as much as Rp20,000,000,000.
According to the Financial Services Authority Circular Letter No.22/SEOJK.04/2015, the shares amount to be repurchased will not exceed 20% of the total paid-up capital, with the provision that at least the outstanding shares was 7.5% of the paid-up capital in the Company. The transaction of repurchasing the Company shares will be conducted based on the Company Directors consideration through IDX.
The Company Directors believed that the Shares Repurchase will not affect the financial condition of the Company because currently the Company has sufficient working capital for financing business activities of the Company.
For this share repurchase will be conducted in 3 months period since the date of September 7, 2015 - December 7, 2015.