JAKARTA. PT AKR Corporindo Tbk (AKRA) will carry out the transfer of 156.5 million shares resulting from the buyback, through the Management and Employee Stock Option Program (MESOP).

Haryanto Adikoesoemo, President Director of AKRA, said that option rights will be granted to the company's management and employees on September 20, 2023. "The price for exercising option rights by each participant on treasury shares is IDR 499 per share," said Adikoesoemo, in an information disclosure on the Indonesia Stock Exchange (BEI).

Option rights will be granted in 4 stages. Later, these option rights will have a validity period from August 1, 2024 to May 20, 2026.

For the record, each share to be transferred has a nominal value of IDR 20. The total shares to be transferred are equivalent to 0.78% of AKRA's issued and fully paid capital.

"The company will guarantee that before June 11, 2026, all shares resulting from the company's share buyback will be transferred through the MESOP program and the remaining shares will later be sold back to the market at the price determined by the applicable regulations," said Adikoesoemo. (KR/LM)