Will Hold An EGMS, Waskita Beton Will File A Private Placement

Share illustration (Photo: Doc. Antara)

JAKARTA - The Extraordinary General Meeting of Shareholders (EGMS) of PT Waskita Beton Precast Tbk (WSBP) at the end of June will certainly discuss the corporate action of the peace agreement in the form of Capital Increase without Providing Preemptive Rights (PMTHMETD) or private placement.

WSBP stated that it had reached an agreement on the results of the General Meeting of Bond Holders (RUPO) which was held at the end of May 2023.

"The RUPO agenda discussed is the approval of the proposal of PT Bank DKI which wants a change in class from the original as another Financial Creditor (with a scheme for completing obligations according to the Tranche B and Tranche C Group of the WSBP Peace Agreement) to become a Financial Creditor (with a scheme for completing obligations according to the Tranche A Group WSBP Peace Agreement)," said WSBP Management in an information disclosure quoting Antara.

Based on the results of the vote on all registered creditors, it was obtained that more than 50 percent of creditors stated that they did not approve the amendment to the Peace Agreement and the change in the PT Bank DKI settlement scheme as Other Financial Creditors to Finansial Creditors.

"Thus, the settlement of the Company's obligations to Bank DKI will still comply with the provisions of the Peace Agreement ratified by the Panel of Judges in accordance with the Decision of the Commercial Court at the Central Jakarta District Court and the Indonesian Supreme Court," said WSBP Management.

Furthermore, the results of the voting can also be the basis for the WSBP to hold an EGMS to discuss the implementation of the Peace Agreement corporate action in the form of PMTHMETD.

"The company can carry out corporate actions mandated by the Peace Agreement which has been ratified by the Panel of Judges in accordance with the Commercial Court Decision at the Central Jakarta District Court and the Supreme Court," said WSBP Management.

As is known, WSBP has scheduled the EGMS on June 9, 2023, but the company decided to postpone the meeting to June 30, 2023.

This change in the schedule of the EGMS was made in connection with the Financial Services Authority (OJK) Letter No. S-1615/PM.02/2023 dated June 8, 2023 regarding Amendments and/or Additional Information on the WSBP PMTHMETD Plan.