JAKARTA - PT MD Pictures Tbk (FILM) has decided to postpone the issuance of new shares through a rights issue in the near future. The proposal of this plan will be resubmitted for approval in 2024.

In the public expose quoted Wednesday (14/6), Manoj Dhamoo Punjabi, President Director of FILM, mentioned that the cancellation of this plan had been approved by shareholders during the Extraordinary General Meeting of Shareholders (EGMS) last week (9/6).

Initially, FILM plans to issue 1.90 billion shares of IDR 100 each, or a maximum 20% of its issued and paid-up capital after rights issue. The proceeds of this corporate action will be spent on FILM’s business expansion.

Until March 2023, the authorised capital of this issuer was recorded at IDR 2 trillion, while its issued and paid-up capital was worth IDR 1.48 trillion. PT MD Global Investment controls 50.50% of them, followed by Manoj Dhamoo Punjabi of 22.23%, Morgan Stanley and Co International of 14.62%, Shania Manoj Punjabi of 0.20%, and the public of 12.45%.

After premiering Sewu Dino and recording 4.8 million viewers, FILM is preparing to introduce several more movies, including Catatan Si Boy, Ganjil Genap, and Layangan Putus. (LK/ZH)