JAKARTA – PT Cikarang Listrindo Tbk (POWR) allocates a maximum of IDR 144.80 billion for repurchasing its shares (buyback). Said corporate action will be carried out systematically in the next 18 months, following the approval obtained during the Extraordinary General Shareholders Meeting last week (16/6).
Ko Rina, Investor Relations & Corporate Finance Manager of POWR, confirmed that the shareholders meeting was joined by shareholders representing 14,481,036,280 units of shares or 91.82% of POWR’s listed shares. “The agreement was reached by 98.25% of the present shareholders,” she stated in the meeting treatise quoted Monday (20/6).
The buyback budget is equivalent to USD 10 million using the mid rate of IDR 14,480 per USD on May 9, 2022. This corporate action will then take up POWR’s assets, equity, and shares outstanding. The assets will slide off to USD 1.35 million from USD 1.36 million, as will its equity attributable to the parent company from USD 721.03 million to USD 711.03 million. Lastly, its shares outstanding will decrease by 241,307,340 units from 15,769,996,880 units.
The Indonesia Stock Exchange (IDX) data last week (17/6) showed that POWR’s highest stock price was at IDR 725 per share, while its lowest price was at IDR 705 each. The volume of transaction reached 7,088,400 shares, totalling to IDR 5.06 billion, gained from 1,103 transactions. (LK/ZH)