Chaotic! FILM Shares Enter UMA & Are Subject to ARB, This is Management’s Response

Jakarta, CNBC Indonesia – The management of PT MD Pictures Tbk (FILM), a company led by film producer Manoj Punjabi, gave a statement regarding the entry of the company’s shares under special supervision on the Indonesia Stock Exchange (IDX) due to the company’s shares moving outside the usual alias unusual market activity (UMA).

FILM’s management stated that until now there is no material information or facts that affect the company’s share price. This comes after this stock has skyrocketed by 200% in the last 6 month period.

In the disclosure of information submitted by the company, the last information submitted by FILM was on April 6, 2021. This information is in the form of an affiliated transaction, namely the provision of deposit guarantees worth IDR 49 billion for debt restructuring from its parent company, PT MD Graha Utama.

Apart from this news, until now there is still no latest news regarding the company’s plans. However, the company stated that in the near future it would hold an Annual General Meeting of Shareholders (AGMS).

“The company will take corporate action in the near future, namely the Annual General Meeting of Shareholders. Further information will be provided regarding the Annual General Meeting of Shareholders,” the disclosure said, quoted on Tuesday (13/4/2021).

For your information, until 10.14 this morning it was recorded that FILM’s shares had strengthened 201.08% over the last 6 months. Meanwhile, year to date it has strengthened 194.74%. Within the last one month there has also been a strengthening of up to 79.49%.

In the last half-year period, foreigners recorded a net sell of IDR 5.42 billion and since the beginning of the year foreigners have released IDR 4.83 billion in the regular market.

Meanwhile, in today’s trading, FILM’s share price immediately fell to touch the lower auto reject limit (ARB), which was 6.67% at the start of trading session I. Although on its way, the decline decreased to minus 5.83% at the level of Rp. 560/share.

Trade data noted that the issuer’s shares owned by film producer Manoj Punjabi were transacted at Rp 34 billion with a trading volume of 61 million shares.

Previously, FILM’s management also announced Manoj’s sale and purchase action. In the disclosure of this information, Manoj was recorded as having sold 1 million lots of Rp. 324/unit and 300 thousand lots of Rp. 338/unit on January 15 2021 and received funds of Rp. 425.4 million for investment reasons.

Meanwhile, Manoj bought back on the same day with the same lot at a price of IDR 326/share at a price of IDR 423.8 million for investment reasons. This means that from these two transactions Manoj managed to make a profit of IDR 1.6 million.

Manoj sold his shares on January 15, at which time FILM’s shares were flying, touching their highest level, aka ARA (upper auto reject) at 25%.

[Gambas:Video CNBC]

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