GIAA - PT. Garuda Indonesia (Persero) Tbk

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JAKARTA – The shareholders of PT Garuda Indonesia (Persero) Tbk (GIAA) approve several corporate actions that are designed in relation to the restructuring of debts owed to third parties.

The treatise of the Extraordinary General Shareholders Meering quoted today (19/10) mentioned that the shareholders agree upon the capital boost agenda that will raise the capital from IDR 13.77 trillion to IDR 66.27 trillion. This decision was approved by shareholders who represent 22,991,997,794 shares, or 99.93% of the total shares.

Furthermore, the plan of offering 68,072,851,378 shares in a rights issue had been approved, as well as the plan to convert the debts to shares following the insolvency agreement by issuing 22,970,514,286 series B shares of IDR 182 each in a private placement. (LK/ZH)