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Harum allocates a budget of US$ 16.20 million for buyback

17 January 2019 07:27 AM  Company: PT. Harum Energy Tbk[HRUM]
Rp. 1,355  +5 (0.37%)

JAKARTA - PT Harum Energy Tbk (HRUM) allocates US$ 16.20 million to conduct a buyback of 133,379,900 shares or 4.93% of the issued and paid-up capital. The stock that will be bought will be saved as the treasury stock for three years.

Ray A Gunara, President Director of PT Harum Energy Tbk (HRUM) stated that the buyback was done to give some flexibility for the company to increase the earning per share (EPS) and return on equity (ROE). "To support the stability price of the company for the fundamental condition of the company," he stated as cited from the company's information disclosure.

The buyback will be decided in the Extraordinary General Meeting of Shareholders on 18 January 2019. The method that is used for the program is buyback through trading on Indonesia Stock Exchange (IDX), appointing a broker of securities, and the buyback will be done if it provide some benefits for the company. This program will be conducted from 18 January 2019 to 17 July 2020.

In the third quarter of 2018, the issued and paid-up capital was recorded at Rp 270.36 billion, consisted of PT Karunia Bara Perkasa (Rp 200.20 billion or 74.05%), PT Bara Sejahtera Abadi (Rp 250 million or 0.09%), Ray A Gunara (Rp 30 million or 0.01%), public (each below 5%) (Rp 56.17 billion or 20.78%), and treasury stocks (Rp 13.69 billion or 5.07%).  The authorised capital was recorded at Rp 1 trillion. (LK/AR)

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PT. Harum Energy Tbk [HRUM]   Rp. 1,355   +5 (0.37%)