JAKARTA – PT Mitra Pinasthika Mustika Tbk (MPMX)  has cancelled 76 million treasury shares resulting from a buyback programme.

This amount represents 91.5% of the company’s total treasury shares, equivalent to 1.7% of the company’s issued and paid-up capital.

The decision was approved at the Annual General Meeting of Shareholders (AGMS) held on 27 May 2025.

MPM Group management stated that the cancellation of shares was carried out through a reduction in the company’s issued and paid-up capital.

Following the cancellation of the 76 million shares, MPMX’s total issued and paid-up capital will decrease from IDR 2.23 trillion to IDR 2.19 trillion.

Consequently, the total number of outstanding shares in the market will fall to approximately 4.39 billion.

At the same time, MPMX will allocate its remaining treasury shares to support the company’s long-term incentive programme.

However, the number of shares allocated to the programme was not disclosed in the report.

As of 30 April 2025, MPMX held 83.63 million treasury shares, acquired through a buyback programme carried out during the COVID-19 pandemic. (DH/ZH)