JAKARTA – PT Cowell Development Tbk (COWL) might be potentially delisted of the stock listing on Indonesia Stock Exchange (IDX) after its stock trading suspension had officially lasted for two years last Wednesday (13/7).
In the information disclosure quoted Thursday (14/7), IDX once announced the temporary suspension over COWL’s stock trading activities on July 13, 2020. If the company’s condition failed to show any improvement since then, the stock listing of COWL would be taken down from the stock exchange.
Referring to IDX regulation, the delisting might take effect due to several factors. They include experiencing conditions or events that adversely affect the business and recording stock trading limited only in the negotiation market for 24 months in a row.
On June 28, 2022, Harijanto Thany resigned from the position of the President Commissioner of COWL. Currently, COWL only has Adam Mingkay as the Independent Commissioner, Irwan Susanto as the President Director, and Pikoli Sinaga as the Director.
COWL’s shareholders consist of PT Gama Nusapala, which owns 71.12% of 4,871,214,021 units of COWL’s issued shares, Feral Investment that holds another 14.35%, Earvin Limited of 8.12%, and the public of 6.41%. (LK/ZH)