JAKARTA. PT M Cash Integrasi Tbk (MCAS) is planning a shares buyback of 30.2 million shares at most, or equal to 3.48% of its issued and paid-up capital.

The management of MCAS confirmed that the company had gained approval from shareholders in a meeting held on September 27, 2024. In said meeting, the budget allocated for this buyback is set to a maximum of IDR 90.7 billion.

“It has included fees for brokerage services and other costs in relation to this buyback transaction,” added the management of MCAS in the official statement.

Then, MCAS’s shareholders have also granted power and authority to the board of directors to arrange the buyback, including setting the price and the transfer price of shares gained from buyback.

Today (30/9), MCAS was seen slipping 30 points or 2.20% to IDR 1,335 at 1.56 PM WIB. Since the beginning of this year, however, its price has massively dropped 3,155 points or 70.27%. (KR/ZH)