Industri Jamu dan Farmasi Sido Muncul announced buyback on December 1, 2015
2015-12-02 10:27:06
PT. Industri Jamu dan Farmasi Sido (SIDO) has decided to extend the Company's shares repurchase for the next 3 (three) months from December 1, 2015 to February 29, 2016.
The reasons for the extended period are:
- The plan of the share purchase was as much as 2.2% in the first period September 2015, in September 1, 2015 to November 30, 2015 have not been fulfilled;
- The remaining funds reserved were as much as Rp 198 billion.
The other terms and conditions are as follow:
- The company will stop the shares repurchase if the share price has reached Rp 600.
- The repurchased shares will be recorded as treasury shares and according to the plan, it will be resold after the market conditions improve at a better price.
- Impact of Financing on the Shares Repurchase of the Company's Financial Statements. Financing for the Company's shares repurchase at the maximum amount, will reduce the number of assets and equity by Rp 198 billion. The Company believes that the share buyback does not affect the financing of the Company's business activities, because until date the company has a sufficient working capital and cash flow to carry out the Company's operational activities.
- Discussion and Management analysis. Based on a macro basis, the impact of the share repurchases on the Company's financial condition can be seen in the Company's Consolidated Financial Statements performance ended on September 30, 2015 (unaudited). The performance of Net profit per share, and return on assets and return on equity after a share buyback is higher than before the share repurchase. (W)
SIDO - PT. Industri Jamu dan Farmasi Sido Muncul Tbk
Rp 575
-5 (-1,00%)