The Company's management explained that the stock split with this ratio --a ratio of 1:5-- is expected to make DIGI's share price more attractive to investors, especially retail investors.
PT Arkadia Digital Media Tbk (IDX: DIGI) as the parent company of Suara.com and a number of other vertical portals, on Friday, October 23, 2020, held an Extraordinary General Meeting of Shareholders (EGMS).
Held at Jambuluwuk Thamrin Hotel, Central Jakarta, the sole agenda in the Company's EGMS this time was the approval of a stock split. The entire Board of Commissioners and Board of Directors of the Company, along with a number of shareholders were present at this meeting.
Still in the period of the Covid-19 pandemic, various strict protocols were implemented in the Company's meeting this time. These include hygiene protocol, the use of masks, and physical distancing.
In this EGMS, the Company decided to carry out a stock split with a ratio of 1:5 from the original nominal value of Rp 100 (one hundred Rupiah) per share to Rp 20 (twenty Rupiah) per share. The number of shares outstanding from 325,000,000 shares to 1,625,000,000 shares.
The Company's management explained that the stock split with this ratio is expected to make DIGI's share price more attractive to investors, especially retail investors. This step is also expected to have a maximum impact on the liquidity of the Company's share trading, as well as provide added value for public shareholders.
"The stock split with this ratio makes the company's share price more attractive to investors, thus providing a maximum impact on the liquidity of the Company's stock trading," said CEO of PT Arkadia Digital Media Tbk, Wiliam Martaputra.
Previously, in July 2020, Arkadia has also held an AGMS agenda plus an Independent GMS, with one of the important decisions being the approval of the entry of funding from the Media Development Investment Fund (MDIF) Media Finance I B.V. MDIF is an institution known for its commitment to assisting the development of independent media, competitive, sustainable and resilient media businesses, which has operations in more than 40 countries.
Then at the end of August 2020, the Company officially launched a local content development program in 14 provinces in Indonesia. The launch of the program under the name Suara Regional was held in conjunction with a webinar themed "Election Campaign Strategy in the Midst of a Pandemic".
The Company through its subsidiaries such as Suara.com has also continued to carry out further development and various other programs, including those in collaboration with various local media in the regions, as well as with a large number of other partners.