PT Tower Bersama Infrastructure Tbk (TBIG) Holds Extraordinary General Meeting of Shareholders and Announces Plan for 1:5 Stock Split

Posted on 30th October 2019

JAKARTA, 30 October 2019 - PT Tower Bersama Infrastructure Tbk. ("TBIG") held its Extraordinary General Meeting of Shareholders (“EGMS”) today at JS Luwansa Hotel in Jakarta. The EGMS was attended by the Company’s shareholders and achieved the required quorum.

Approval for Proposed Stock Split

At the EGMS, Shareholders approved the proposal for a stock split in a 1:5 ratio, which will change the Company’s nominal share value from Rp100 per share to Rp20 per share. The total number of issued and outstanding shares of the Company will change from 4,531,399,889 shares to 22,656,999,445 shares. Once the Company receives approval from the Indonesia Stock Exchange (“IDX”), the schedule for the stock split will be announced.

“We expect that the Company's share trading liquidity on the IDX will improve with the stock split. The increased number of shares should make our shares more accessible to all types of investors, improving the distribution of the Company's share ownership,” commented Helmy Yusman Santoso, CFO of TBIG.

Approval for Issuance of Foreign Currency Bonds or Notes

Shareholders also approved plans for the issuance of foreign currency-denominated bonds or notes to be issued by the Company that will be offered to investors outside of Indonesia.  This constitutes as a material transaction on the basis of Regulation No. IX.E.2 Annex of the Bapepam & LK Chairman’s Decision No. Kep 614/BL/2011 dated November 28, 2011 regarding Material Transactions and Main Business Activity Changes.

 

About PT Tower Bersama Infrastructure Tbk:

PT Tower Bersama Infrastructure Tbk (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia. 

TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.

For more information contact:

Corporate Secretary:

Helmy Yusman Santoso – Tower Bersama Group

Telp. (62-21) 2924 8900

Email: corporate.secretary@tower-bersama.com

Investor Relations:

Veronica Jordan

Telp. (62-21) 2924 8900

Email: veronica.jordan@tower-bersama.com

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