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SILO allocates Rp 100 billion for its buyback plan

01 November 2019 05:56

JAKARTA - PT Siloam International Hospitals Tbk (SILO) will allocate Rp 100 billion to buy back 16,167,000 of its shares in the capital market. The plan will be implemented after being approved at the company's Extraordinary General Meeting of Shareholders (EGMS) on 9 December 2019.

As quoted from the company disclosure, the buyback will be carried out from 16 December 2019 to 9 June 2021. The purpose of the buyback is to support the company's plan to conduct a management employee stock option plan (MESOP) program to provide incentives for employees.

This corporate action plan is expected to have minimal impact on the company's operations, business activities and business growth, because the funds allocated for the buyback is lower than the company's equity. (LK/AR)

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