JAKARTA - PT Jaya Real Property Tbk (JRPT) allocates a budget of Rp 100 billion to buy back shares. In this corporate action plan, the company will buy 243,900,000 shares or 1,774% of the total outstanding shares.
As quoted from the company's disclosure on Wednesday (12/3), the company recorded a net profit as of September 30, 2019 of Rp 53.88 per share. While the net profit performance when buying back shares amounted to Rp 53.88 per share. This plan will be carried out within a span of three months after it is submitted to investors.
This corporate action plan can be carried out without the approval of the General Meeting of Shareholders (GMS) referring to the Financial Services Authority No.3/2020 on concerning Other Conditions as a Significantly Fluctuating Market in the Implementation of Share Buyback Issued by Issuers. Currently, the Composite Stock Price Index (CSPI) has decreased 18.46% from the beginning of the year to March 9, 2020. (LK)