PT. AKR Corporindo, Tbk

AKR shareholders unanimously approve Stock Split

December 20, 2021

JAKARTA, 20 December 2021 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ) has received the shareholder approval for the stock split.   In the Extraordinary General Meeting of Shareholders (EGMS) held today in Jakarta, the shareholders unanimously voted for the stock split with a ratio of 1:5.

The par value per share of AKRA is currently Rp.100/share, while the par value per share after the stock split will be Rp.20/share.  AKRA's stock split process has followed the applicable procedures and conditions. After obtaining shareholder approval through the EGMS, the Company will submit an application for share listing on December 24, 2021, then coordinate with the regulators and authorities. The Stock Split will take effect in January 2022.

The Implementation of AKR E-RUPS to approve Stock Split Corporate Action

Mr. Haryanto Adikoesoemo President Director AKRA said, “The purpose of this this Stock Split is to make AKRA shares more affordable, and further widen the investor base.  Participation of retail investors in Indonesia has increased significantly over the past year with many young and millennial generation investors looking for attractive investment opportunities.”

“AKRA has been delivering consistently strong financial performance, maintaining high levels of ESG practices, and adopting latest technology in operations.  AKRA is a constituent of key indices like LQ 45, Sri-Kehati Index and IDX ESG Leader Index that are widely followed by investor community”.  

“We delivered a strong result during the 9M ended 30 September 2021 with net profit growth of 20% YoY to Rp 797 billion.  This follows 30% growth in financial year 2020.   With our reliable and efficient infrastructure, we maintain uninterrupted delivery of energy and chemicals to our customers, despite COVID19 and global supply chain disruptions.   We see the prospects of our business continuing to improve with the resumption of economic activities, increased value addition through new smelters and pickup of investment cycle.   These will generate higher demand of basic chemicals and energy in Indonesia”. 

Mr. Haryanto concluded, “We are grateful to IDX and OJK for their support during the Stock Split process.   AKRA will continue to play its role in further development of the domestic capital market and increased participation of young investors”.

Corporate Secretary
PT AKR Corporindo Tbk.