Dharma Satya Nusantara announced buyback on December 8, 2015
2015-12-08 09:46:27
PT. Dharma Satya Nusantara Tbk (DSNG) plans to buyback shares with the maximum of 100,000,000 shares conducted gradually within the period of December 8, 2015 - March 7, 2016.
The shares repurchase of the Company is a continuation of the Company's share buyback program conducted within the period of September 8, 2015 - December 7, 2015.
The purpose of these shares repurchase is:
- Provide the Company opportunity and flexibility to carry out shares repurchase at any time based on market condition within 3 months from December 8, 2015 - March 7, 2016. The Company's share buyback transactions will only be made if it provides benefits to the Company and shareholders.
- The shares repurchase of the Company can provide flexibility to achieve an efficient capital structure and enable the Company to reduce the overall cost of capital and increase the return on equity (ROE) in an ongoing basis.
- Provide the Company greater flexibility in managing long-term capital. As far as capital surpluses and surplus funds exceed the needs with regard to business development and expansion plans. The implementation of the Company's share repurchase transaction will enable the control of excess cash flow in an efficient and correct manner.
- The company provides as much as Rp60 billion funds to repurchase the company's shares.
The company will appoint PT. Ciptadana Securities to repurchase the company's shares. (W)
DSNG - PT. Dharma Satya Nusantara Tbk
Rp 775
+5 (+1,00%)