MDKA’s plan of a rights issue of 1.2 billion shares is a go

The Extraordinary General Shareholders Meeting of PT Merdeka Copper Gold Tbk (MDKA) approved the plan of issuing 1.2 billion shares via a rights issue. Thus, MDKA’s issued and paid-up capital is set to rise to 24,110,850,815 shares from 22,904,850,815 shares.

Adi Adriansyah Sjoekri, Corporate Secretary of Merdeka Copper Gold, said that the shareholders meeting met the required quorum, representing 19,104,624,601 shares of 83.4108% of total shares with valid votes. “The quorum reached 84,4108% with 99.9987% agreement. Meanwhile, the abstained was only 0.0013%,” he concluded in the meeting result, quoted Monday (31/1).

Then, the management of MDKA will be granted the authority to determine the final number of issued shares, the execution price, the fund utilisation plan, and the ratio of issued shares to the preemptive rights given to the shareholders.

In addition, the meeting also marked the termination of Heri Sunaryadi, a commissioner of MDKA, and Michael P Soeryadjaya, a director of MDKA. These positions will be taken over by Yoke Candra Katon and Andrew Starkye, which will last until the conclusion of the General Shareholders Meeting in 2025.

Source: https://www.idnfinancials.com/news/42035/mdkas-plan-rights-issue-shares