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UNTR extends stock buyback period until January 2023

12 October 2022 10:31

JAKARTA - PT United Tractors Tbk (UNTR) carried out the first extension of the stock buyback period until January 11, 2023.

Previously, UNTR announced the stock buyback plan on July 12, 2022 with a period of 3 months, starting from July 13, 2022 to October 12, 2022.

“The company intends to extend the period of stock buyback by three months from the date of this information disclosure, starting from October 12 to January 11, 2023," said UNTR Corporate Secretary Sara K. Loebis in an official statement quoted from Bisnis.

For information, the number of stock buyback will not exceed 20 percent of the paid-up capital, provided that after the stock buyback, at least the amount of outstanding share is 7.5 percent of UNTR paid-up capital.

This buyback action is expected to stabilize stock prices in volatile market conditions and provide flexibility for UNTR in managing long-term capital. (LM)

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