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Jakarta, CNBC Indonesia – Issuer in the film sector, PT MD Pictures Tbk (FILM) plans to carry out Capital Increase with Pre-emptive Rights (PMHMETD) by issuing shares of 1.9 billion shares with a nominal value of IDR 100 per share.
Quoting the disclosure of information on the Indonesia Stock Exchange (IDX), the shares to be offered through PMHMETD are equivalent to 20% of the company’s current issued and fully paid capital.
Determination of the amount and exercise price, will take into account the latest conditions of matters including macroeconomic conditions, capital markets, fundamental conditions and the performance of the Company, the volatility of the company’s share price and input from Shareholders.
The application for PMHMETD registration is made after obtaining approval from the General Meeting of Shareholders (GMS). The GMS is planned to be held on June 9 2023. Thus the PMHMETD is expected to be implemented no later than 12 months after the GMS approval date.
The cash funds obtained from the PMHMETD will be used to develop the company’s business, which is expected to contribute positively to the company’s financial performance.
Strengthening the capital structure is also expected to support the Company going forward, which will ultimately create value for shareholders and stakeholders.
Shareholders who do not exercise their HMETD will be subject to a maximum dilution of ownership of 16.67% of the company’s shareholding percentage.
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