Merdeka Copper Gold allocates IDR 530 billion for buyback

PT Merdeka Copper Gold Tbk (MDKA) has allocated IDR 530 billion to buy back 229,044,658 shares or 1% of the company’s issued and paid-up capital. This plan will be decided at the Extraordinary General Meeting of Shareholders (EGMS) on May 25, 2021.

In the disclosure of information quoted on Monday (19/4), Adi Adriansyah Sjoekri, Corporate Secretary of PT Merdeka Copper Gold Tbk (MDKA) said that the corporate action plan should be carried out no later than 18 months after the EGMS approval. “The company’s considerations for buying back include maintaining stock price stability and implementing a long term incentive program,” he said.

According to him, this corporate action plan will not have an impact on the company’s revenue and profit performance, including it will not affect operational activities.