JAKARTA - PT Golden Energy Mines Tbk (GEMS) will issue 294,117,650 shares in its rights issue at the end of the first semester of 2020. The rights issue plan will be decided at the company's Extraordinary General Meeting of Shareholders (EGMS) on 5 March 2020.
As quoted from the company's disclosure (28/1), the rights issue will be held no later than 12 months after the EGM and after the company obtained an effective statement from the Financial Services Authority (OJK). Shareholders who do not use their rights in their rights issue will have their ownership diluted by 4.62%.
By holding rights issue, GEMS can fulfil IDX's free float regulation, while also strengthening its capital structure. (LK/AR)