IDXChannel - PT Radana Bhaskara Finance Tbk (HDFA) plans to issue new shares with a capital increase scheme without pre-emptive rights (PMTHMETD) or private placement.
"HDFA plans to issue 609,697,278 shares with a nominal value of Rp101 or as much as 10 percent of all fully paid-up shares in the Company after deducting Capital Increase without Pre-emptive Rights in the framework of the share ownership program," said HDFA Management in an information disclosure, Thursday ( 20/5/2021).
Furthermore, the exercise price of the shares of Additional Capital without Pre-emptive Rights is at least 90 percent of the average closing price of the Company's shares for a period of 25 consecutive Exchange Days on the Regular Market prior to the date of application for Listing of additional shares resulting from the Additional Capital without Pre-emptive Rights.
The consideration for this private placement is that HDFA will get additional working capital without burdening shareholders when, the Company's capital and financial structure will increase, the number of outstanding shares of the Company will increase so that it will increase the liquidity of the Company's share trading, inviting strategic investors who are interested in investing their capital in the Company and can provide added value to the Company's performance.
The issuance of the Company's new shares is also carried out in the context of implementing a share ownership program for management and employees or the Management and Employee Stock Option Program (MESOP).
The planned use of funds after deducting expenses will be used for investment and working capital for the Company with a maximum implementation period of 2 years for additional capital without pre-emptive rights not in the framework of a share ownership program as of the date of approval of the EGMS which is valid until June 24, 2023 or a maximum of 5 years for Capital Increase without Pre-emptive Rights in the framework of the share ownership program, which is valid until June 24, 2026.
With a number of new shares issued to shareholders, the Company will experience a decrease (dilution) of share ownership proportionally in accordance with the number of new shares issued, which is as much as 10 percent.
HDFA will seek shareholder approval in the EGMS (Extraordinary General Meeting of Shareholders) which will be held on 24 June 2021. (RAMA)
