Strengthen Working Capital, Shareholders Of Restuy On Additional Surge Capital

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Solusi Sinergi Digital Tbk (WIFI) or Surge took a corporate action to increase capital through the Capital Increase mechanism without Pre-emptive Rights (PMTHMETD). This is in accordance with the provisions stipulated in the Financial Services Authority Regulation No. 14/POJK.04/2019 concerning amendments to the Financial Services Authority Regulation No. 32/POJK.04/2015 concerning the Increase of Capital of Open Companies by Providing Pre-emptive Rights. This additional capital has been approved by the majority of independent shareholders at the LB GMS which took place on Thursday, November 2, 2022 at the Company's Head Office. The company plans to issue a maximum of 205,029,000 ordinary shares or a maximum of 10 percent of the Company's issued and paid-up capital. All proceeds from this Capital Increase will all be used by the Company for working capital, including but there are not limited costs for advertising space rental, advertising support equipment, labor costs and overhead costs. Surge CEO, Hermansjah Haryono said, with the company's ongoing business expansion, the company currently assesses and views that the implementation of Capital Increase without Pre-emptive Rights is the best choice for alternative funding that can be obtained within an efficient period of time compared to other funding alternatives. "This is also in line with the company's business plan that has been determined by the company," said Hermansjah in a written statement, Friday, November 4. Hermansjah added, with this additional capital, it can certainly provide benefits both directly and indirectly, including improving and strengthening the company's capital structure, increasing productive assets in the form of working capital. "And increase the liquidity of the Company's shares on the Indonesia Stock Exchange," added Hermansjah. Meanwhile, based on the financial statements as of June 30, 2022, the Company managed to record revenue of Rp205.55 billion, which increased when compared to the same period in 2021. The increase was driven by digital products, advertising and telecommunications. Meanwhile, the Company's Total Assets as of June 30, 2022 reached IDR 1.16 trillion. With this additional capital, the Company's Equity value is expected to increase by 8.31 percent to IDR 593.3 billion.