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20250326_AMAG_Keterbukaan Informasi terkait Aksi Korporasi_31871193_lamp2.pdf
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AMENDMENT TO AND/OR ADDITIONAL INFORMATIONOF
INFORMATION DISCLOSURE
In Compliance with OJK Regulation Number 29 of 2023 on the Buyback of Shares Issued by Public Companies
AMENDMENT AND/OR ADDITIONAL INFORMATION OF INFORMATION DISCLOSURE TO
SHAREHOLDERS IN CONNECTION WITH THE SHARES BUYBACK PLAN OF PT ASURANSI
MULTI ARTHA GUNA TBK
PT Asuransi Multi Artha
Guna Tbk
(“the Company”)
Business Activities: Insurance Services
Domiciled in Central Jakarta, Indonesia
Head Office:
The City Center Batavia Tower One Lt. 17
Jl. K.H. Mas Mansyur Kav. 126
Karet Tengsin, Tanah Abang
Jakarta Pusat 10220
Telephone: (021) 2700 590, 2700 600
Fax: (021) 725 0223, 720 5714
Email: israeni@mag.co.id
Website: https://www.mag.co.id/
A. Introduction
The shareholders Company are hereby notified that the Company plans to carry out shares
buyback on the Company’s shares issued and listed on PT Bursa Efek Indonesia (“Stock
Exchange”). The shares buyback shall be carried out in accordance with the prevailing laws and
regulations of the Republic of Indonesia, including Law No. 40 of 2007 on Limited Liability Company
as amended by Law No. 6 of 2023 on the Stipulation of Government Regulation in lieu of Law No.
2 of 2022 on Job Creation into Law and the Financial Services Authority (“OJK”) Regulation No.
29 of 2023 on the Buyback of Shares Issued by Public Companies (“OJK Regulation 29/2023”).
In relation to the proposed shares buyback, in accordance with OJK Regulation Number 29/2023
and the Company’s Articles of Association, approval is required from the Company’s shareholders
at the Annual General Meeting of Shareholders (“AGMS”). As such, the Company shall conduct
an AGMS which previously planned on 29 April 2025 has been moved to 30 April 2025, whereby
one of the AGMS agenda is regarding the aforementioned shares buyback (“Shares Buyback”).
B. Description on the Shares Buyback Plan
1. Estimation of shares buyback schedule, cost and nominal value of shares to be
purchased are as follows:
Shares Buyback will be carried out within a maximum period of 12 (twelve) months from the
date of Shares Buyback approval from the AGMS scheduled on 30 April 2025.
Whereas the estimated cost for the Shares Buyback is at a maximum of Rp62,500,000,000
(sixty two billion five hundred million Rupiah), which includes transaction fee, trading fee and
other costs thereto. This is to effect buy back of 187,463, 364 shares in order to complete the
share buy back in full.
The estimated total number of the shares to be purchased is at a maximum of 187,463,364
shares with a total nominal value of Rp18,746,336,400. Once completed, these shares along
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with the 49,730,700 shares would mean the company has bought back 237,194,064 shares
with a total nominal value of Rp23,719,406,400 or a maximum of 4.74% (four-point seven four
percent) of the Company’s total issued and paid up capital.
2. Explanation, Consideration, and Reason for Shares Buyback
The consideration and reason behind the Shares Buyback are to improve the Company’s
shares trading liquidity, which might expectedly increase the Company’s share price.
3. Estimation of Decline in the Company’s Revenue as a Result of Implementation of Shares
Buyback and Impact on the Company’s Financing Costs
The Company estimates that the Shares Buyback shall not cause a significant impact as the
financing costs shall not cause the Company’s revenue to decline.
4. The Company’s Proforma Earnings per-Share upon the Implementation of Shares
Buyback Plan in Consideration of the Decline in Revenue
Based on the Company’s Financial Statement as of 31 December 2024, the Company’s
earnings per share is Rp46.15 (after exclusion of non-recurring income) and is expected to
reduce by 10.5% or Rp 4.85 per share upon the implementation of Shares Buyback. Such
increase is based on the profit and loss projection as of the 2025 Business Plan submitted to
OJK
Financial Year
which ends on 31
December 2024 (in
28 Feb 25 (in IDR, unless stipulated otherwise)
IDR, unless
in million except Share Fleet
Explanation stipulated otherwise)
in million except
Share Fleet
Post – Share Buy
Pre-Share Buy Back Impact
Back
Total Asset 5,722,193 - 5,722,193 5,366,438
Net Profit 31,353 - 31,353 228,593
Equity 1,847,044 - 1,847,044 1,817,706
Total of
Share Float
4,951,821,816 - 4,951,821,816 4,951,821,816
(Share
sheet)
Net Profit
per Share 6.33 - 6.33 46,15
(full value
Return on
0.55 - 0.55 4,26
Asset (ROA)
Return of
1.70 - 1.70 12,58
Equity
*) Represent value of shares to be bought back
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5. Limitation of Share Price for Shares Buyback
The Company shall carry out Shares Buyback in accordance to OJK Regulation No. 29/2023,
among others:
a. Whereby the Shares Buyback is carried out through the Stock Exchange, such buyback
transaction shall be made through 1 (one) member of the Stock Exchange, namely PT
CGS-CIMB Sekuritas Indonesia and the bid price for shares buyback shall be lower than
or equal to the previous transaction price; and
b. Whereby the Shares Buyback is not carried out through the Stock Exchange and
considering that the Company’s shares are listed and traded on the Stock Exchange,
such buyback price shall not exceed the average daily closing price in the Stock
Exchange for the last 90 (ninety) days prior to the date of Shares Buyback.
6. Limitation of Shares Buyback Period
Shares Buyback shall be completed within a maximum period of 12 (twelve) months from the
date of AGMS approval.
7. Methods to be Implemented for the Shares Buyback
In accordance with OJK Regulation 29/2023, the Company shall carry out Shares Buyback
through or outside of the Stock Exchange. Whereby the transaction is done through the Stock
Exchange, such transaction shall be made through 1 (one) member of the Stock Exchange,
namely PT CGS-CIMB Sekuritas Indonesia.
8. Analysis and Management Discussion with Regards to the Impact of Shares
Buyback on the Company’s Business Activities and Future Growth
The Company views that the decline in cash that will be used as a source of fund to implement
Shares Buyback shall not impact the business activities and operations of the Company,
particularly in fulfilling the Company’s obligations to the insured, considering the Company has
adequate working capital to finance its business activities and operations. With such Shares
Buyback, the share price is expected to be more stable in the long run and benefits the
Company’s shareholders.
9. Source of funds that will be used to carry out Share Buybacks
The Company ensures that the source of funds that will be used to carry out the shares
buyback will be entirely from the Company’s internal funds and will not be from public offering
and loans and/or debt in any form, and that the shares buyback will not significantly affect
the Company's financial ability to meet its short-term obligations.
This Amendment and/or Additional Information of Information Disclosure is issued in Jakarta on
March 25, 2025 and constitutes an inseperable part of Information Disclosure which was
announced on March, 24 2025.
Board of Directors
PT Asuransi Multi Artha Guna Tbk
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Names mentioned 5 people and organisations named in the text · linked when the evidence is strong
unresolved
person
K.H. Mas Mansyur
p.1
unresolved
org
Financial Services Authority
p.1
unresolved
org
PT CGS-CIMB Sekuritas Indonesia
p.3 ×2
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