JAKARTA – PT Itama Ranoraya Tbk (IRRA), a health device distributor, would discharge 100 million units of shares gained via buyback for IDR 1.988 per share to PT Global Dinamika Kencana (GDK).
Pratoto Satno Raharjo, Financial Director of Itama Ranoraya, reveals that the buyback shares transfer is conducted under specific circumstances. Thus, it would not be preceded by the Annual General Shareholders Meeting. “The proceeds of a buyback of 100 million shares for IDR 527 each in average, along with the realised budget used for the buyback, amount to IDR 59.91 billion,” he further explains in the information disclosure, quoted Friday (17/9).
According to Raharjo, the shares of the said previous buyback would be sold outside the stock exchange to GDK by the end of September 2021. The selling price for the unlisted company is set to IDR 1,988 per share.
“The cutoff point of the buyback shares transfer would be in December 2021,” he adds.
As of August 2021, GDK is reported as the controller of 69.75% of IRRA’s total shares of 1.6 billion units. PT Neumedik Jaya acquires another 5.25%, while the treasury stock covers 6.25%. Therefore, by the end of this corporate action, GDK’s portion would increase by 6.25% to 76%. (LK/ZH)