JAKARTA. PT Lautan Luas Tbk (LTLS) will repurchase as much as 18.5% of the company's issued and paid-up capital on the stock market.
This refers to the Financial Services Authority (OJK) Regulation No. 2 / POJK.04 / 2013 jo. OJK Circular No. 3 / SEOJK.04 / 2020 concerning other conditions as market conditions that fluctuate significantly in the implementation of buyback by issuers.
Herman Santoso, Director of LTLS, said that the company will allocate as much as Rp 250 billion for that purposes. The source of the funds is the company's profit balance.
LTLS will carry out a buyback for 3 months from the date of its announcement (16 March 2020 to 16 June 2020). (AM/AR)