JAKARTA – The shareholders have given their approval for two upcoming corporate actions of PT Midi Utama Indonesia Tbk (MIDI), a stock split and a rights issue. This approval was obtained during the Extraordinary General Shareholders Meeting held last week (17/2).

In the information disclosure quoted Tuesday (21/2), Suantopo Po, Corporate Secretary of Midi Utama Indonesia, mentioned that 99% of the present shareholders, who reached quorum of 95.82% of total shares, agreed upon the stock split plan with a 1:10 ratio. “The General Shareholders Meeting met the quorum, joined by the representatives of 2.76 billion shares, or equal to 95.82% of total shares,” Po added.

The similar decision was made for MIDI’s plan to issue a maximum of 461.17 million shares of IDR 100 each, or 4.61 billion shares of IDR 10 each post stock split agreement, in a rights issue.

Yesterday (20/2), MIDI’s shares reportedly peaked at IDR 4,190 per share and hit the lowest of IDR 4,010 per share. It was closed at IDR 4,100 per share.

Until January 2023, MIDI’s shareholders consisted of PT Sumber Alfaria Trijaya Tbk (AMRT) of 89.43% and public investors of 10.57% of the total listed shares of 2,88 billion units. (LK/ZH)