JAKARTA – PT BFI Finance Indonesia Tbk (BFIN) will channel out 75 million shares of its treasury stock via a Management and Employee Stock Option Plan (MESOP) worth IDR 37.5 billion.
Sudjono, Director of BFI Finance, confirmed that this treasury stock will be sold for IDR 500 per share. “Those shares will be blocked from being traded for the next three years since the transfer date (11/10),” he explained in the information disclosure quoted Wednesday (12/10).
According to Sudjono, MESOP will not lead to any dilution in the portions of BFIN’s original shareholders as these shares do not originate from the stock in portfolio.
BFIN’s shareholders have also given the green light regarding this MESOP during the Extraordinary General Shareholders Meeting on June 22, 2022. The beneficiaries of this program will be decided by the board of directors under the recommendation of the Committee of Nomination and Remuneration of the company.
The treasury stock consists of the shares gained from the buyback that took place from April 15, 2015, to October 15, 2016. Throughout this buyback period, BFIN spent IDR 256.69 billion on 1,002,732,000 shares worth IDR 256 each.
Until September 2022, the company recorded 15,967,115,620 shares, 48.15% of which belongs to Trinugraha Capital, while the public has 45.57% of them. The treasury stock is reported to amount to 6.28% of the shares. (LK/ZH)