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20240422_AMAG_Laporan Informasi dan Fakta Material_31628365_lamp2.pdf
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AMENDMENT TO AND/OR ADDITIONAL INFORMATION
INFORMATION DISCLOSURE
In Compliance with OJK Regulation Number 29 of 2023 on the Buyback of Shares Issued by Public Companies
AMENDMENT TO AND/OR ADDITIONAL 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 29/2023 and the
Company’s Articles of Association, approval is required from the Company’s shareholders at the
EGMS. As such, the Company shall conduct an Extraordinary General Meeting of Shareholders
(“EGMS”) on 25 April 2024, whereby one of the EGMS 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 EGMS scheduled on 25 April 2024.
Whereas the estimated cost for the Shares Buyback is at a maximum of
Rp63,100,000,000 (sixty three billion one hundred million Rupiah), which includes
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transaction fee, trading fee and other costs thereto. This is to effect buy back of
189,178,464 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
189,178,464 shares with a total nominal value of Rp18,917, 846,400. Once
completed, these shares along with the 48,015,600 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 2023, the Company’s
earnings per share is Rp29.72 (after exclusion of non-recurring income) and is expected to
increase by 1.5% or Rp 0.36 per share upon the implementation of Shares Buyback. Such
increase is based on the profit and loss projection as of the 2024 Business Plan submitted to
OJK.
Financial Year which ends on 31 December
28 Feb 24 (in IDR, unless stipulated otherwise)
2024 (in IDR, unless stipulated otherwise) in
in million except Share Fleet
million except Share Fleet
Explanation
Post – Share Buy
Pre-Share Buy Back Impact
Back
Total Asset 5,748,779 - 5,748,779
4,973,324
Net Profit 30,686 - 30,686
143,799
Equity 1,745,407 - 1,745,407
1,527,038
Total of Share Float
- 4,953,894,416
(Share sheet) 4,953,894,416 4,764,358,492
Net Profit per Share
6.19 - 6.19
(full value 30.18
Return on Asset
0.53 - 0.53
(ROA) 2.89
Return of Equity 1.76 - 1.76
9.42
*) 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 EGMS 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.
The Amendment to and/or Additional Information of this Information Disclosure is issued in
Jakarta on April 22, 2024 and constitutes an inseparable part of the Information Disclosure which
was announced on 19 March 2024
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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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