Stock Split 1:4, Chandra Asri, Owned By Conglomerate Prajogo Pangestu, Has Received The Approval Of Shareholders

Photo: Doc. Chandra Asri Petrochemical

JAKARTA - The petrochemical company owned by conglomerate Prajogo Pangestu, PT Chandra Asri Petrochemical Tbk (TPIA) has received approval to conduct a stock split with a ratio of 1:4. This is in accordance with the decision of the company's extraordinary general meeting of shareholders (EGM) which was held on Friday, August 5.

In the EGMS there were two meeting agendas, namely: First, approval of the company's stock split with a ratio of 1:4 and amendments to article 4 paragraphs (1) and (2) of the company's articles of association. Second, approval of changes in the composition of the company's management.

"The decision on the first agenda is as follows, approving the split of the nominal value of the shares from Rp. 200 per share to Rp. 50 per share or with a ratio of 1:4. Approving changes to the company's articles of association related to the stock split, namely Article 4 paragraph (1 ) and (2) the company's articles of association," explained directors of Chandra Asri in an information disclosure on the Indonesia Stock Exchange (IDX) website, quoted Wednesday, August 10.

In the decision making of the first agenda of the meeting, consisting of 20,836.635,471 or 99.99999568 percent of all shares with voting rights who attended the meeting agreed, abstained 900 votes or 0.00000432 percent of all shares with voting rights who attended the meeting , and no one disagrees.

The EGMS of TPIA also agreed to grant power and authority to the company's directors with substitution rights to take all necessary actions in carrying out the split of the nominal value of the shares in accordance with the prevailing laws and regulations, including but not limited to determining the procedures and schedule for the implementation of the split. share nominal.

Previously, the directors of Chandra Asri said that the stock split was intended to make the company's share price on the stock market more affordable for investors, especially retail investors. On Tuesday, August 9 trading, TPIA shares closed down 25 points or 0.27 percent to Rp9,200.

"The stock split also aims to increase the liquidity of the company's stock trading on the Indonesia Stock Exchange (IDX), so that more investors are expected to be interested in investing in the company," said the director of TPIA.