JAKARTA – PT Surya Citra Media Tbk (SCMA) is offering 400 million buyback shares through the Management and Employee Stock Ownership Program (MESOP), amounting to 0.54% of the company’s capital.

SCMA management explained that MESOP is a programme that allows eligible employees, directors, and commissioners of the company and its subsidiaries to own shares in the company.

“The MESOP programme aims to enhance a sense of ownership among participants, which is expected to ultimately improve individual and overall company performance,” SCMA management stated in a disclosure to the Indonesia Stock Exchange (IDX) on Saturday (22/3).

SCMA management also confirmed that this programme will not result in shareholder dilution, as no new shares will be issued from the company's portfolio.

MESOP programme will run for five years following approval from the company’s General Meeting of Shareholders (GMS), which is scheduled for 28 April 2025.

In early trading today (24/3), SCMA shares dropped 1% from IDR 198 per share by 9.30 AM WIB. (DK/KR/ZH)