ER
PT GARUDA Indonesia will carry out additional capital without preemptive rights (PMTHMETD) or a private placement of IDR5.18 trillion.
Quoting the information disclosure on the Indonesia Stock Exchange (IDX), the private placement will be held on Wednesday (12/28). Meanwhile, the results of the private placement will be announced on Friday (12/30).
Implementation of a private placement in the form of conversion of mandatory convertible bonds (OWK) and conversion of creditor debt in order to improve the financial position as referred to in Article 3 letter (a) POJK 14/2019.
“The company will conduct PMHMETD by converting a OWK of IDR 1 trillion based on the Deed of Obligatory Convertible Bond Issuance Agreement No. 28 December 28 2020 as approved by the Company’s Extraordinary General Meeting of Shareholders on October 14 2022,” wrote the Garuda Indonesia team in an information disclosure, quoted on Wednesday (21/12).
The issuer codenamed GIAA will issue 5,102,040,816 new shares without Preemptive Rights or 5.1 billion Series C shares with a nominal value of Rp 196 per share. In addition, the debt conversion is a private placement in accordance with the Settlement Agreement dated June 17, 2022 which was homologated and ratified by the Commercial Court at the Central Jakarta District Court.
In order to convert the creditor’s debt, GIAA also issued new shares without pre-emptive rights with a total of 21,329,763,265 shares or 21.32 billion series C shares with a nominal value of IDR196 per share.
When added up, the total new shares from the private placement amounted to 26.43 billion shares. Referring to the nominal price of IDR196 per share, the total transaction value reaches IDR5.18 trillion.
Garuda Indonesia will convert the debts of 92 creditors into shares of 18.94 billion new shares, 167 entities holding global sukuk into 1.75 billion new shares, 107 creditor companies with incomplete information becoming 3.92 billion new shares, and 40 entities holding sukuk incomplete to 233.75 million new shares.
The private placement became a corporate action at the end of this year and is part of a restructuring. On Tuesday (21/12), GIAA had just completed a rights issue in order to pocket additional State Capital (PMN) of IDR7.5 trillion from the government. [sources/photo special]
