Resources Alam to buy back shares
Monday, September 17 2012 - 10:57 AM WIB
IDX-listed PT Resources Alam lndonesia Tbk recently stated the company intends to buy back company shares previously issued and noted at the Indonesian Stock Exchange.
The company plans to hold Extraordinary Shareholders General Meeting on October 25, and expects to appoint CIMB Securities Indonesia as intermediary in its buy back proposal.
Resource Alam stated that the maximum buy back shares will reach 10 percent of the total available shares, or up to 100 million shares at the total price of up to Rp200 billion. The buy back investment, it said, will be allocated from the company's retained earnings, adding if the plan was not approved by its shareholders, the allocated fund will be returned to the company's retained earnings account.
Editing by Er Audy Zandri