PT Saraswati Griya Lestari Tbk (HOTL) Faces Delisting Threat on the Indonesian Stock Exchange

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Receh.in - The shares of PT Saraswati Griya Lestari Tbk (HOTL) are facing a potential delisting from the Indonesian Stock Exchange (BEI) due to the suspension imposed on the company which has already reached 6 months and the suspension period is set to reach 24 months on August 1st, 2024.

In light of this potential delisting, BEI has issued a warning to investors to pay attention and be cautious of any information that will be disclosed by the company. For parties concerned with the company, they can contact Tubagus Yudi Yuniardi at 021-2567 5505 as the Company Secretary.

The head of Division 2 of Company Valuation at BEI, Vera Florida, stated that delisting can be carried out by the authorities if the company experiences conditions or events that have a significant negative impact on the company's recorded business sustainability. Or the event has a financial or legal impact while the recorded company cannot show adequate recovery indicators.

"Referring to Regulation III.3.1.2 of Bursa Regulation No. I-I on Delisting and Relisting, the company has met the criteria for delisting of shares on the Indonesian Stock Exchange," Vera wrote in BEI's public information disclosure, Friday (2/4).

Based on the information disclosed by the company as of September 30th, 2021, the company's management composition is as follows:

• Main Commissioner: Tjandra Widjaja
• Independent Commissioner: Dini Virtianty
• CEO: Tubagus Yudi Yuniardi
• Director: Erwin Wijaya