PT Lautan Luas Tbk, on Thursday, 31 August 2023 has completed the Extraordinary General Meeting of Shareholders. At EGMS, Lautan Luas shareholders has reach consensus to the Company plan to buy back shares. This share buyback will purchase a maximum of 90.90 million shares, which is equivalent to 5.3% of the total issued and fully paid capital. To carry out this corporate action, Lautan Luas has allocated funds of IDR 100 billion. The fund comes from Lautan Luas internal cash.
Keyne Kristanto, Lautan Luas Corporate Secretary in her official statement “Buyback is one form of LTLS commitment to increase shareholder value and the performance of LTLS shares. It will provide great flexibility to LTLS in managing capital to achieve an efficient capital structure,”. The share buyback will be carried out in stages from 1 September 2023 to 21 February 2025.