Strong Plan from the DIGI's Annual General Meeting of Shareholders

June 25, 2019

Located at the Century Park Hotel, Senayan, Jakarta, on Monday, June 24, PT Arkadia Digital Media Tbk (DIGI) has held its Annual General Meeting of Shareholders (AGM). After the AGM, the Company ready to take an important step, which is to carry out Capital Additions without Pre-emptive Rights (PMTHMETD) with a maximum of 20,500,000 shares, or 6.31% of the issued and paid-up capital stated in the Company's articles of association as stipulated in OJK Regulation Number 32 / POJK.04 / 2015.

Attended by the entire Board of Commissioners and Board of Directors of PT Arkadia Digital Media Tbk, the AGM was also attended by other shareholders. The plan for the Company's PMTHMETD itself is carried out in accordance with the provisions of the Company's articles of association, applicable laws and regulations, and does not conflict with the agreements previously carried out by the Company.

This is done in the context of business activities, where the Company feels the need to strengthen the capital structure and increase the number of shares outstanding, thus indirectly increasing trade liquidity for the Company's shares.

"This PMTHMETD can be carried out at once, or in stages within a period of two years as of the approval of this meeting (AGM)," the President Director of PT Arkadia Digital Media Tbk, Wiliam Martaputra said.

Wiliam also said, for the implementation of PMTHMETD at this time, the Company did not plan to do so through a public offering.

The proceeds from the PMTHMETD itself are projected to reach Rp. 31,775,000,000 from 20,500,000 shares assuming a price of Rp. 1,550 per share. As for the benefits of implementing PMTHMETD, the Company will receive additional funds that will strengthen the capital structure in the context of the Company's business development, and the number of outstanding shares will also increase which will increase the trading liquidity of the Company's shares.

"The results of the PMTHMETD will then be used to increase working capital, develop the Company's business and or pay off the obligations of the Company," Wiliam explained.

"With the use of funds obtained from the implementation of PMTHMETD for the development of the Company's business, it is expected that it will have a positive impact on the Company which can lead to the increase of shareholder's values," President Commissioner of PT Arkadia Digital Media Tbk, Stephen Sulistyo added.

Back