Expands Textile Industry, SRITEX Makes Additional Capital

By : Hariyanto And Aldi Firhand. A | Monday, November 06 2017 - 17:49 IWST

President Director of PT Sri Rejeki Isman Tbk. Iwan Setiawan Lukminto (Foto Ist)
President Director of PT Sri Rejeki Isman Tbk. Iwan Setiawan Lukminto (Foto Ist)

INDUSTRY.co.id - Jakarta - PT Sri Rejeki Isman Tbk (SRIL) will conduct additional capital without HMETD by issuing 1.859 billion shares at an exercise price of Rp353.2 per share.

President Director of Sritex, Iwan Setiawan, said the funds obtained from this corporate action for working capital and general company needs or for expansion in the textile industry include takeover of companies engaged in the textile industry.

The Company considers the PMTHMETD implementation plan to strengthen the capital structure which will ultimately support the business of the company and its subsidiaries, and increase the number of publicly traded shares so that after the end of the required 12-month lock-up period, it can improve the company's liquidity.

To realize this celebration, the company will hold an EGMS on November 6, 2017. All new shares to be issued will be taken by the company's main shareholder, PT Huddleston Indonesia (HI).

Currently, HI has as many as 10.425 billion shares of the company or Rp1, 045 trillion which is 56.07% of the total issued and paid up capital of the company. This is in line with HI's commitment to develop the company.

One of the commitments given by HI is in the form of funding for the company's equity. In addition, HI has certainty of funding that can be given to the company.

News Comment

Today's Industry

President Joko “Jokowi” Widodo Wednesday (16/06) inspected mass COVID-19 vaccination for workers in financial service sector held at Tennis Indoor Senayan, Jakarta

Kamis, 17 Juni 2021 - 20:10 WIB

President Jokowi Inspects Mass COVID-19 Vaccination for Workers in Financial Sector

President Joko “Jokowi” Widodo Wednesday (16/06) inspected mass COVID-19 vaccination for workers in financial service sector held at Tennis Indoor Senayan, Jakarta.

Minister of Manpower Ida Fauziyah delivered a statement in the Presidential Office, Monday, (10/8). Photo by: BPMI

Kamis, 17 Juni 2021 - 19:00 WIB

Manpower Minister Tells Companies to Reinforce Health Protocols

Companies must continue to enforce strict health protocols in the workplace, particularly amidst the recent spike in COVID-19 cases in several regions, Minister of Manpower Ida Fauziyah has…

President Jokowi inaugurates Indonesia’s Export Release to the Global Market online at Bogor Presidential Palace, West Java (04/12/2020). (Photo by: Press Media and Information Bureau of Presidential Secretariat/Lukman)

Kamis, 17 Juni 2021 - 17:55 WIB

Indonesia Reports Upward Trend Economic Recovery

The Government has announced that Indonesia economic recovery will continue in line with the positive trend of exports and imports. For the record, Indonesia’s exports in May 2021 reached…

International Labour Organization (ILO)

Kamis, 17 Juni 2021 - 16:20 WIB

Indonesia Elected Member of ILO Governing Body

Indonesia has been chosen as a regular member of the Governing Body (GB) of the International Labour Organization (ILO) for the 2021-2024 period and will represent the Asia Pacific region along…

Minister of Home Affairs Tito Karnavian. Photo by: PR of Cabinet Secretariat

Kamis, 17 Juni 2021 - 15:40 WIB

Gov’t Extends Micro-Scale Restrictions to 28 June

The Government has decided to extend the implementation of Micro-Scale Activity Restrictions (PPKM Mikro) from 15 June to 28 June 2021.