JAKARTA - PT Net Visi Media Tbk (NETV) is carrying out a reverse stock merger starting next week, with a ratio of 2:1 or two old nominal shares into a new share. Later, the new nominal value of Series A shares will be IDR 200 per share from the previous IDR 100 per share (Series A).

In an information disclosure quoted on Thursday (17/10), Shinta Trisnawati Sutrisno, Corporate Secretary of NETV said that the merger of share values ​​had been approved by shareholders last week (8/10). The number of NETV shares will decrease to 11.72 billion from before the reverse stock of 23.45 billion shares.

Trading in old nominal shares will end next week (21/10) and new nominal shares will start trading on (22/10) on the regular market and negotiation market. Trading for new nominal shares on the cash market is scheduled for (24/10).

Meanwhile, the odd lot share purchase period is scheduled for next week (23-30/10) with a purchase price of IDR 162 per share. The designated standby buyer of odd lot shares is PT Indo Premier Sekuritas.

For your information, 80.05% of the shares in this issuer were recently acquired by PT MD Entertainment Tbk (FILM), a production house company owned by the Punjabi family. The share acquisition was accompanied by an increase in capital to encourage better performance in the future. (LK/LM)