JAKARTA – Shareholders approved the plan of PT Golden Eagle Energy Tbk (SMMT) to raise its capital via private placement. For this upcoming corporate action, the company will issue 315 million shares of IDR 125 each.

Susanti Nilam, Corporate Secretary of SMMT, confirmed that the private placement plan was agreed upon by shareholders during Extraordinary General Meeting of Shareholders yesterday (26/11).

“The issued shares is set to a maximum of 10% of issued and paid-up capital of the company,” Nilam said, as quoted today (29/11).

As of October 2024, SMMT registered 3.5 billion shares. Controlling party claims 73.11% of then, followed by non-controllers of 26.89%.

Free float was reported at 3.77%, with total shareholders reaching 3,267. The ultimate beneficial owner of SMMT’s shares is Ng See Yong.

The private placement is projected to take place no later than November 26, 2026. The proceeds will be used for funding business expansion and working capital, split at 50:50.

Thus, SMMT’s assets will rise to IDR 1.18 trillion from IDR 1.14 trillion, while total equity clocked up to IDR 839.18 billion from IDR 878.55 billion.

The exercise price will be set to at least 90% of average closing price of SMMT’s shares within the past 25 days prior to recording the shares issued in this private placement.

For the record, since October 2024, SMMT price has slipped 0.67% to IDR 735 from IDR 740 per share. (LK/ZH)