Sritex, A Textile Company Owned By Conglomerate Iwan Lukminto, Has Been 'Parked' In The Stock Exchange For 6 Months, Is It In The Thread Of Being Kicked Out Of The IDX?

Illustration. (Photo: Doc. Sritex)

JAKARTA - The Indonesia Stock Exchange (IDX) has stated that the textile issuer PT Sri Rejeki Isman Tbk (SRIL) alias Sritex has the potential to experience delisting or delisting.

Head of IDX's Corporate Valuation Division 3, Goklas Tambunan, and IDX's Head of Trading Operational and Regulatory Division, Irvan Susandy said the company's shares belonging to conglomerate Iwan Lukminto have been suspended in all markets for six months so far.

"The suspension period will reach 24 months on May 18, 2023," explained the IDX in its announcement, quoted Monday, November 22.

As is known, based on Exchange Regulation No. II concerning Delisting and Relisting, IDX may delete the listing of company shares for two reasons.

First, in accordance with provision III..3.1.1, experiencing a condition, or event, which significantly negatively affects the business continuity of the listed company, either financially or legally, or on the continuity of the status of the listed company as a public company, and the listed company cannot show indications of adequate recovery.

Second, provision III.3.1.2, the shares of listed companies that are due to suspension in the regular market and cash market, are only traded in the negotiated market for at least the last 24 months.

Currently, public ownership in SRIL reaches 8.15 billion shares or 39.89 percent of the total shares of SRIL. While the remaining 59.03 percent is owned by the Lukminto family company, PT Huddleston Indonesia.

Then 0.52 percent owned by Iwan Kurniawan, 0.00 percent or 740.000 shares owned by Vonny Imelda Lukminto. Lenny Imelda Lukminto and Margaret Imelda also own the same number of 740.000 shares. Then 0.03 percent owned by Hajah Susyana, and 0.52 percent owned by Iwan Setiawan.

The Exchange also asks the public to pay attention and pay attention to all forms of information submitted by the company.