Allo Bank Owned By Conglomerate Chairul Tanjung Will Hold EGMS This Afternoon At Menara Bank Mega, What's The Agenda?

JAKARTA - Chairul Tanjung's banking company, PT Allo Bank Indonesia Tbk (BBHI) will hold an Extraordinary General Meeting of Shareholders (EGMS) today, Friday 15 October. The EGMS will be held this afternoon at 14.30 p.m. local time at the Auditorium of the Mega Bank Tower, Jalan Captain Tendean, South Jakarta.

Citing an official statement, the EGMS will discuss three agendas, one of which is requesting approval for Capital Increase with Pre-emptive Rights (PMHEMTD) or rights issues. The company plans to conduct a rights issue in a maximum of 11 billion shares with a nominal value of IDR 100 per share.

The exercise price will be determined later by the Board of Directors of the Company after obtaining authorization from the EGMS. Allo Bank's management revealed that the funds from the rights issue will be used to strengthen the company's capital which will be used for the company's business development, including developing business activities in the field of credit with technological innovation or digital banking.

The other agenda that will be discussed at the meeting is the increase in the Company's Authorized Capital. The company plans to increase the company's paid-up and issued capital in relation to the PMHMETD.

Thus, the company requires sufficient authorized capital for additional capital. In addition, the bank, previously known as Bank Harda Internasional, will also make changes to the composition of the company's management.