Jakarta, 16 October 2017 - Digital-based Telecommunications Company MKNT plans to issue new shares soon through the mechanism of addition of Preemptive Capital (PMHMETD). 

The Company will issue new shares of 4,000,000,000 shares at nominal value of Rp 20, - shares, which can be followed by warrants. But previously the company will conduct stock split no later than the end of this year, with ratio of 1: 5. So after the publication of the new shares, the ratio will be 20 old shares: 8 new shares + 7 warrants. Easily, the ratio can be interpreted as, every ownership of 20 old shares will get the right to order 8 new shares and 7 warrants.

Director of MKNT, Jefri Junaedi, said the funds will be used to strengthen the working capital in subsidiary companies and meanwhile, the rest will be used to increase working capital of the company.

"Implementation of our maximum right issue can be done in next year. For the allocation of the funds will be more absorbed by our subsidiary companies, because the capital expenditure needed in the subsidiary companies is quite a lot. For example the need for additional prepaid vouchers is high enough,"he said.

Meanwhile, based on trading data today, Wednesday (11/10/2017), MKNT stock opened low at 0.34% or by 5 points at the level of 1.460 per share. Traded in the range of 1,435 - 1,480 with volume of 1,046,100 and market capital of Rp 1.45 trillion.

 

This corporate action has been approved by the shareholders of MKNT through the Extraordinary General Meeting of Shareholders (AGMS LB) on 16th October 2017, at The Ritz Carlton, Mega Kuningan Area, South Jakarta. In addition to approving for thepublication of new shares, the meeting also approved that Syarif Syarial Ahmad is appointed as Independent Director to replace the previous Director, Ivan Ekancono.