Alfamidi Gets Approval for Stock Split and Rights Issue

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Receh.in -
Alfamidi, also known as PT Midi Utama Indonesia Tbk (MIDI), has received approval to carry out a stock split during an extraordinary general meeting of shareholders held on February 17, 2023.

According to one of the decisions made during the meeting, "the company's stock nominal value will be split from Rp 100 per share to Rp 10 per share or with a stock split ratio of 1:10." This was quoted from the statement released by Alfamidi's extraordinary general meeting on Tuesday, February 21, 2023.

The management of MIDI stated that pursuant to Article 22 of Financial Services Authority Regulation No. 15/POJK.04/2022 concerning Stock Split and Merger of Shares by Public Companies, the implementation of the stock split must be carried out no later than 30 days after the EGM that approved the plan.

The estimated initial schedule for trading shares with a new nominal value in the regular and negotiation markets is on March 8.

In addition, Alfamidi also received approval through the EGM to hold a capital increase with pre-emptive rights or rights issue. The company plans to issue a maximum of 461,176,480 shares with a nominal value of Rp 100 per share, or a maximum of 4,611,764,800 shares with a nominal value of Rp 10 if the stock split has been executed.

"The company plans to implement the PMHMETD within the time period according to the provisions of POJK No. 32/2015, in which the implementation of PMHMETD must be carried out after the company obtains an effective statement from the OJK and within a period not exceeding 12 months from the date of the EGM," explained the Alfamidi management.

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