JAKARTA - PT Erajaya Swasembada Tbk (ERAA) repurchase its shares from today until the next three months. In this corporate action, the company provided funds amounting to Rp 319 billion, which were taken from internal company.
As quoted from the company's information disclosure on Friday (3/20), the number of shares to be purchased ranges from 7.5% to 20% of the company's paid-up capital. The decision to take corporate action refers to the OJK circular No.3/2020 concerning Other Conditions as Significantly Fluctuating Market Conditions in the Implementation of Share Buyback Issued by Issuers. Currently, the stock market is experiencing fluctuations in the impact of global outbreaks of COvid-19.
The post-corporate action will reduce the company's assets and equity, but does not significantly affect operations. As of September 30, 2019, total assets recorded at Rp 9.82 trillion will drop to Rp 9.50 trillion, recorded equity of Rp 4.85 trillion will decrease to Rp 4.53 trillion, while total net income is stable at around Rp 174, 13 billion and earnings per share rose to Rp 68.23 from Rp 54.59 per share. (LK)