Stocks Dropped, FILM ‘King’ Manoj Punjabi Looking for Additional Capital

Jakarta, CNBC Indonesia – PT MD Pictures Tbk (FILM), an issuer in the film and video sector, plans to increase capital by pre-emptive issuance (PMHMETD) of up to 1,902,243,400 shares with a nominal value of Rp. 100,- per share or 20% of the issued and fully paid capital of the Company and has been approved by the shareholders.

However, apart from this, there has been no other material information/facts/important events that could affect the price of the Company’s securities and the Company’s survival that has not been disclosed to the public.

Based on the disclosure of information, Friday (6/1/2023), in accordance with the applicable provisions, the Company can still implement the resolutions of the EGMS no later than 12 (two) months from the date of the said EGMS, taking into account all requirements to fulfill regulation No. .32/POJK.04/2015 regarding the PMHMETD.

To note, the stock has slumped over the past week so it has touched the lower auto reject (ARB) of up to 7%. Based on the performance of the Company’s Financial Statements as of 30 September 2022, the Company’s performance showed an increase in sales of IDR 382.36 billion, an increase of 108% compared to 30 September 2021 which was recorded at IDR 183 billion, while Net Profit reached IDR 153.96 billion and the Company has recorded achievements very good for the Company’s film production.

“Therefore, the Company is not aware of any material information or facts that may affect the value of the company’s securities or investment decisions of investors as stipulated in Rule Number IE: Obligation to Submit Information, provisions in points III.2.1. and IV.2.1,” said FILM’s management.

[Gambas:Video CNBC]