MD Picture AGMS approves rights issue of 1.9 billion shares
JAKARTA. The Extraordinary Annual General Meeting of Shareholders (EGMS) of PT MD Pictures Tbk (FILM) approved the corporate action plan, namely a rights issue to issue a maximum of 20% of the total issued and fully paid-up capital or equivalent to 1,902,243,400 shares. The shares have a nominal value of IDR 100 per share.
President Director of PT MD Pictures Tbk Manoj Punjabi in the GMS Wednesday (25/5/2022) revealed that the proceeds from the rights issue will be used as working capital and the development of the Company's business activities. Meanwhile, the Company's Annual GMS has approved and approved a number of agendas, including the annual report for the 2021 financial year.
In 2021, the Company managed to record a net profit of IDR 30.14 billion and sales doubled by 108.43% to IDR 255 billion from IDR 122.35 billion. Sales from the digital platform segment increased rapidly and contributed 85.73%.
In 2022, said Manoj, MD Pictures will be more productive in producing films so that people can enjoy quality films of art. (AM/LM)