JAKARTA. PT Cashlez Worldwide Indonesia Tbk (CASH) will initiate its capital raise without pre-emptive rights, or private placement, by issuing 143,112,551 new shares.

The number of newly issued shares by CASH is equal to 10% of its issued and paid-up capital. Each share has a face value of IDR 12.

For the record, all newly issued shares by CASH will be allocated to Management and Employee Stock Option (MESOP) program. All MESOP shares will then be distributed a maximum of 70% of total option rights in January 2025, while the remainder will follow no later than January 2026.

After this private placement, the portions of old investors of CASH will be diluted by up to 9.09%. This will bring the public’s portion to 40.31%, Andri Wijono Sutiono’s to 27.13%, and Hasim Sutiono’s to 23.49%.

The management of CASH will first ask for approval during the Extraordinary General Meeting of Shareholders in regard to private placement and MESOP plans. The meeting will be held on April 18, 2024, in Jakarta.

According to IDNFinancials data, CASH’s stock was seen weakening 5 points or 4.95% to IDR 96 per share. Since the beginning of this year, the company’s stock price has gone down 7 points of 6.80%. (KR/ZH)