JAKARTA. PT Link Net Tbk (LINK) will distribute some of its treasury shares for its Management and Employee Stock Option Program (MESOP) this mid-year.

The management of LINK mentioned that the treasury stock currently owned by the company consists of 111.61 million shares, or equal to 3.9% of its issued and paid-up capital. The entire shares secured by the company from the buyback taking place from 2018 until 2021.

“The company must transfer the shares from buyback within three (3) years since the conclusion of the buyback, or for a longer period, according to POJK 30/2017,” added the management of LINK in the official disclosure.

The number of shares allocated in this MESOP is 57.26 million shares, or equal to 2% of LINK’s issued and paid-up capital. They will include 3 million shares that have yet to be transferred out by the company since June 2020.

Regarding the upcoming MESOP, LINK will first have to ask for approval from General Meeting of Shareholders that will take place June 3, 2024. (KR/ZH)