Harum Energy, Mining Company Owned By Conglomerate Kiki Barki Will Hold RUSPLB Wants Stock Split 1:5

Illustration. (Photo: Unsplash)

JAKARTA - The mining company owned by conglomerate Kiki Barki, PT Harum Energy Tbk (HRUM) will hold an extraordinary general meeting of shareholders (EGMS) in order to request approval for a stock split in May 2022.

In the statement of the summons for the Extraordinary General Meeting of Shareholders (EGMS) of Harum Energy, quoted on Wednesday 20 April, HRUM plans to hold the EGMS on Wednesday, May 11, 2022. The time for the implementation will be at 10.30 WIB until it is finished at the Deutsche Bank Building, Central Jakarta.

"Agenda EGMS Approval of the stock split of the company's nominal value (Stock Split) and changes to the provisions of Article 4 of the Company's Articles of Association related to the Stock Split," said the letter.

The issuer with the code HRUM will split the nominal value of the company's shares with a ratio of 1:5, so that the original nominal value of Rp. 100 per share became Rp. 20 per share.

Meanwhile, the split of the nominal value of the shares aims to increase trading liquidity of the Company's shares on the Indonesia Stock Exchange (IDX) and also to make HRUM's share price more affordable for retail investors.

Furthermore, the shareholders who are entitled to attend the EGMS are those who are registered in the Register of Shareholders (DPS) as of Monday 18 April. The EGMS will also be conducted in a hybrid manner, both online and offline.