Thursday, 29 October 2020 | 15:51 WIB

Partnering with Strategic Investor, GMF AeroAsia to Issue 8.28 Percent New Shares

Activities in stock exchange.

TANGERANG, NNC - PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) or GMF AeroAsia will make Additional Capital without Preemptive Rights (PMTHMETD) as much as 10 percent of the company's issued and paid-up capital.

This plan has been approved by the shareholders of the company in the Extraordinary General Meeting of Shareholders (EGMS) held in Tangerang, Tuesday (3/6/2018).

GMFI President Director Iwan Joeniarto explained the number of shares to be issued through corporate action, which is often referred to as private placement, amounts to as much as 2,823,351,100. These shares will be issued to strategic investors that are being explored by the company.

"Total new shares issued amount to 2,337,734,850 or equivalent to 8.28 percent of the total issued and paid-up capital of the company. The new shares will be released to strategic investors who have capital strength," he said.

lwan disclosed the reason for the submission of PMTHMETD is in order to conduct business activities, because GMFI management views that the company needs to strengthen the capital structure. The strategic investor is also believed to be able to grow GMFI's business and bring added value to GMF brand positioning.

In addition, the Company also issues new shares in the Management and Employee Stock Option (MESOP) share ownership program of a maximum of 485,616,300 shares, equivalent to 1.72 percent of the total issued and paid capital.

The meeting also agreed to change the GMFI management structure with the official appointment of Asep Kurnia as the new director. Previously, Asep served as VP Human Capital at GMFI since February 2015.

With these changes, the current management of the company is as follows: President Director: Iwan Joeniarto, Director: Insan Nur Cahyo, Director: Rahmat Hanafi, Director: Asep Kumia, and Independent Director: Tazar Marta Kumiawan.