JAKARTA, Indonesia, June 28, 2018 /PRNewswire/ -- PT MARGA ABHINAYA ABADI, Tbk (MABA), has conducted its Extraordinary General Meeting of Shareholders ("EGMS") at Restaurant Rantang Ibu, Pasar Minggu, South Jakarta with Meeting Agenda as follows:
(1) Approval of Capital Increase without Pre-emptive Rights (PMTHMETD) as referred to in Regulation of the Financial Services Authority No. 38 / POJK.04 / 2014 dated December 29th, 2014 on PMTHMETD amounting to a maximum of 1,500,000,000 (one billion and five hundred million) shares with a nominal value of Rp. 100, -- (one hundred Rupiah) per share or 9.76% (nine point seventy six percent) of the Company's paid up capital and;
(2) Provision of Authorization and authority to the Board of Commissioners to declare in a separate notarial deed regarding the realization of the issuance of new shares in the framework of PMTHMETD and make amendments to article 4 of the Articles of Association.
The First and Second Meeting Agenda, have all been approved by the shareholders.
MABA's plan to implement PMTHMETD is based on: MABA has implemented bank debt restructuring in 2017 and has adjusted its obligation payment schedule, in which Management has developed plans including cost efficiency, and optimization of the market potential of MABA's owned and subsidiary assets, therefore, MABA plans to focus on the activities and collaboration of its business units to enhance the added value of every products and services offered by MABA subsidiaries, which include the Management of Apartments owned by PT Anugerah Berkah Madani (ABMA), Food and Beverage by PT Dream Food, in commercial areas owned by ABMA and optimizing the sales of Apartment and Office units. MABA is confident that in the future it is able to generate and support the Company's growth and business development. MABA requires sufficient fund to meet the obligations in a timely manner and the ability to grow according to MABA plans and targets.
MABA's plans to conduct PMTHMETD or private placements will be offered to affiliated and unaffiliated strategic investors through limited offerings to parties not exceeding 50 (fifty) parties, which provides good terms for MABA to improve MABA's funding position and will be used to fund business activities and settling liabilities. Thus the PMTHMETD or private placement will provide ease and sufficiency of fund for the development of MABA's business activities. Furthermore the addition of issued and paid-up capital will provide flexibility in the acquisition of financing for the plan to increase business activities, in addition MABA will also have ratio better debt to equity.
PMTHMETD MABA stock issuance plan will report to the Financial Services Authority (OJK) and announce through the website of Indonesia Stock Exchange and website www.mabaindonesia.com not later than 5 (five) days prior to the date of issue of new shares as required in Article 14 paragraph (1) Regulation no. 38 / POJK.04 / 2014. These shares will be listed gradually on the Indonesia Stock Exchange.
For further information:
Anggadewi
Corporate Secretary
E anggadewi@mabaindonesia.com
M +62 812 9510 1960
PT Marga Abhinaya Abadi Tbk.
ITS Tower 3rd Floor -- Nifarro Park
Jalan Raya Pasar Minggu No. 18
Jakarta Selatan 12510, Indonesia
T +62 21 2279 0880 | F +62 21 2279 0881
W www.mabaindonesia.com
E contact@mabaindonesia.com
