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Jakarta, March 16, 2020 - PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM) is pleased to announce the Company’s plan to conduct shares buyback program in relation with a significant fluctuating market conditions. The plan is also intended to enhance Company’s shareholders value.
The Company plans to conduct buyback the Company's shares that have been issued and listed on the Indonesia Stock Exchange as stipulated in the Indonesian Financial Services Authority ("OJK") Regulation No. 2/POJK.04/2013 dated August 23, 2013 concerning Buyback of Shares Issued by Issuers or Public Companies in Significantly Fluctuating Market Conditions and OJK Circular No. 3/SEOJK.04/2020 dated March 9, 2020 concerning Other Conditions as Significantly Fluctuating Market Conditions in the Implementation of Shares Buyback issued by Issuers or Public Companies.
The buyback period will commence on March 17, 2020 until June 16, 2020. ANTAM appoints PT Mandiri Sekuritas as brokerage firm for the transaction. ANTAM has allocated a maximum of Rp100 billion for the transaction. The funds include transaction costs, brokerage fees and other costs associated with the Company's Share Buyback transaction.
Pursuant to the OJK Regulation No. 2/POJK.04/2013, ANTAM prohibits Board of Commissioners, Board of Directors and ANTAM's employees and also other related parties whom stated on the Regulation to conduct ANTAM's shares trading during buyback period.