JAKARTA – The shareholders of PT Malacca Trust Wuwungan Insurance Tbk (MTWI) gave the green light for its plan to issue a maximum of 1.4 billion shares in a rights issue. Said decision was made during the Extraordinary General Shareholders Meeting last week (9/9).
“The shareholders granted control and authority to the board of directors to arrange things pertaining to the rights issue plan,” Iis Syarifudin, Corporate Secretary of Malacca Insurance, mentioned in the information disclosure quoted Wednesay (14/9).
The approval of said corporate action plan went hand-in-hand with the increase of authorised capital from IDR 486.3 billion to IDR 610 billion. These plans were approved by the holders of 1,374,312,314 shares of the company, representing 90.7% of the entire issued shares.
The directors are also given the liberation to set the execution price and the stock ratio used in this upcoming rights issue. (LK/ZH)