JAKARTA – Three executives of PT Menn Teknologi Indonesia Tbk (MENN), namely Agus Mulyanto (President Commissioner), Michael H. Mulyanto (President Director), and Edrick Pramana (Director), simultaneously sold all their shares on February 19, 2025.

Agus Mulyanto sold 121.97 million MENN shares at IDR 20 per share. Meanwhile, Michael H. Mulyanto sold all his 552.09 million shares in MENN, and Edrick Pramana sold 286.84 million shares.

All three sold their MENN shares in the negotiated market at IDR 20 per share. After the transaction, they no longer hold any MENN shares.

MENN management clarified that this transaction was part of a divestment strategy, with direct ownership status.

According to data from IDNFinancials.com, MENN's share price closed at IDR 46 per share when the divestment occurred. Thus, the executives sold their shares at a 56.5% discount to the market price. (EF/KR)