JAKARTA. The controlling shareholder of PT Jasnita Telekomindo Tbk (JAST), PT Persada Inti Sejahtera (PIS), has officially transferred its portion as a means to fulfil its obligations to creditors.

Yentoro, President Director of JAST, mentioned that the number of shares transferred by PIS is equal to 20.7%. These shares are transferred to Kennard Jr. S Kurnia.

“The shares transfer by PIS is carried out as a way to pay its obligations owed to creditors,” Yentoro confirmed in the information disclosure in Indonesia Stock Exchange (IDX).

However, this shares transfer will not alter the controlling shareholder and the ultimate beneficial owner position of JAST. “Therefore, the controlling shareholder and the ultimate beneficial owner remain unchanged, Mr. Kennard Jr. S Kurnia,” said Yentoro.

According to IDNFinancials data, PIS still controlled 55.24% of JAST’s shares as of September 30, 2023. Then, another 2.12% of shares belong to Kristina Dwi Suryani P, 0.47% to Nurharjanto, and 42.18% to public investors.

At today’s session, JAST was reported at IDR 51 per share. In the past 5 years, the company has seen 88.91% decline from IDR 409 per share. (KR/ZH)