JAKARTA – PT Resources Alam Indonesia Tbk (KKGI) will repurchase 193,452,000 units of its shares in the fifth phase of the buyback plan, which targets to acquire 500 million shares in total. This corporate action will be carried out no longer than 18 months after the approval gained from the Extraordinary General Shareholders Meeting yesterday (24/5).
In the information disclosure quoted Wednesday (25/4), Agoes Soegiarto, Director of Resource Alam Indonesia, mentioned that this corporate action is an extension of the buyback plan that ended last April 2022. “The company saved up IDR 160 billion at most, equivalent to USD 11.26 million, assuming that USD 1 is IDR 14,200,” he explained.
The company assigns PT Maybank Sekuritas Indonesia as the arranger of this buyback. Then, the acquired shares will be stored as treasury stock.
This corporate action will certainly deplete the net profit from USD 6.83 million to USD 6.78 million, total assets from USD 146.03 million to USD 134.76 million, and shares outstanding from 4,693,452,715 units to 4,500,000,715 units. (LK/ZH)