Saratoga, Conglomerate Owned By Edwin Soeryadjaya And Sandiaga Uno Prepare Stock Split Stock Action

Conglomerate Edwin Soeryadjaya with Sandiaga Uno. (Photo: Instagram @sandiuno)

JAKARTA - PT Saratoga Investama Sedaya Tbk (SRTG) plans to split the nominal value of shares (stock split) with a ratio of 5:1. This is done by Saratoga in order to boost the liquidity of the stock price in the market and reach a wider share price for retail investors.

The application for the stock split will be requested by the Company to shareholders through the Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) on April 28, 2021. Stock split is an activity carried out by an issuer that divides its shares into several new shares, aka is the breakdown of the value of shares into smaller amounts.

Quoted from Saratoga's press release, Friday, April 9, the ratio of the proposed par value of shares is 1 share with a par value of Rp100 per share to 1 share with a par value of Rp20 per share. In addition to the stock split agenda, the EGMS will also seek approval of the company's share buyback plan.

For this buyback, SRTG has announced a share buyback plan on March 22, 2021. Meanwhile, the AGMS agenda is monitored by routine agenda such as request for approval of financial statements, approval of the use of net profit, appointment of public accountants and KAP, salary determination, and reporting on the implementation of the company's long-term incentive program.

As of February 2021, SRTG's major shareholders are Edwin Soeryadjaya at 33.104 percent, PT Unitras Pertama at 32.721 percent and Sandiaga Uno at 21.51 percent.

President Director of Saratoga, Michael Soeryadjaya, said that the company will continue to look for new investment opportunities and support the government's efforts in accelerating economic recovery due to the COVID-19 pandemic.

"We hope that the current vaccination program can immediately break the chain of spread of COVID-19 and stop this pandemic. Saratoga will continue to actively implement the strategy, so that the company's growth will be more optimal when the pandemic has ended," said Michael.

He explained that as an investment company with long experience in Indonesia, Saratoga prioritizes the principle of prudence by managing all risks and consistently implementing diversification strategies. That approach, michael said, is proven to keep the company strong amid uncertainty and responsiveness in responding to all dynamic changes.