JAKARTA - PT Gajah Tunggal Tbk (GJTL)'s plan, to issue debt securities worth USD 270 million, was temporarily delayed because the result of the General Meeting of Shareholders (GMS) for the agenda did not reach the quorum.
One of the agenda of GMS, which took place on Wednesday (17/3/2021), was to ask for shareholders' approval regarding the debt plan. However, the meeting was only attended by 2.45 billion shares with valid votes or equivalent to 70.44% of the votes. Hence, it was declared not reaching a quorum, said the management in an information disclosure on the Indonesia Stock Exchange, Wednesday (17/3/2021).
Thus the GMS did not discuss and make decisions on the agenda for the approval of the debt securities issuance. "The meeting only discussed and decided on other agenda items," wrote GJTL’s management.
GJTL originally planned to issue USD 270 million debt securities to refinance debt securities that will mature in August next year. (AM/VA)