{
    "success": true,
    "data": {
        "id": 1657913,
        "msgid": "unable-to-meet-free-float-requirement-supr-plans-delisting-1775641902",
        "date": "2026-04-06 11:55:45",
        "title": "Unable to Meet Free Float Requirement, SUPR Plans Delisting",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Business",
        "summary": "PT Solusi Tunas Pratama Tbk (SUPR) has announced plans to go private and delist its shares from the Indonesia Stock Exchange (BEI) due to its inability to meet the minimum free float requirements set by BEI regulations. The company's majority shareholder, PT Profesional Telekomunikasi Indonesia (Protelindo), will offer to buy out public shareholders at Rp45,000 per share through a voluntary tender offer, aiming to streamline operations and restructure ownership within the group. This move follows failed attempts to comply with the free float rules, with shareholder approval sought via an Extraordinary General Meeting of Shareholders scheduled for May 2026, potentially leading to delisting by March 2027.",
        "content": "<p>PT Solusi Tunas Pratama Tbk (SUPR) has announced plans to go private\nor change its status from a public company to a closed company, along\nwith the removal of its shares from the Indonesia Stock Exchange (BEI),\nor delisting. Citing BEI disclosures, in connection with these plans,\nmanagement will seek approval from shareholders through an Extraordinary\nGeneral Meeting of Shareholders (EGMS). \u201cAs a public company, in\nimplementing the Go Private and Delisting Plan, the Company is obliged\nto comply with the provisions set out in POJK 45\/2024,\u201d management\nstated on Monday (6\/5\/2026). The corporate action is being taken in\nrelation to the fulfilment of the minimum free float obligation as\nregulated in BEI Regulation No.\u00a0I-A. Although the company has\nendeavoured to meet the minimum free float requirement, it has not yet\nbeen realised. \u201cAs of the date of this disclosure, the Company still\ncannot meet the required minimum free float provisions and there is a\npossibility that the Company cannot meet the minimum free float\ntransition provisions,\u201d it explained. Based on management\u2019s\nconsiderations and a comprehensive evaluation by management of the\ngroup\u2019s long-term business strategy and more efficient management of\nassets and operational activities, including through restructuring of\nshare ownership within the Company group, the Company has decided to\npropose the go private and delisting plan. In this corporate action, PT\nProfesional Telekomunikasi Indonesia (Protelindo), as the majority\nshareholder and controller of the Company, will make an offer to\npurchase the Company\u2019s shares held by public shareholders through a\nVoluntary Tender Offer as regulated in OJK Regulation\nNo.\u00a054\/POJK.04\/2015 on Voluntary Tender Offers. The share purchase price\nmust be higher than the average of the highest daily trading prices on\nthe BEI over the past 12 months calculated backwards from the last\ntrading price or suspension date, amounting to Rp42,295 per share.\n\u201cBased on this, the price that Protelindo will offer to shareholders is\nRp45,000,\u201d it stated. Regarding these plans, public shareholders who do\nnot wish to sell their shares in the VTO will remain shareholders of the\nclosed company. For information, SUPR\u2019s shareholding composition shows\ndominance by the controlling shareholder. PT Profesional Telekomunikasi\nIndonesia holds 1.107 billion shares or equivalent to 97.33% of the\ntotal shares outstanding. Meanwhile, PT Iforte Solusi Infotek holds\n2.58%, and the public portion (each below 5%) is only 0.09%. The total\nplaced and paid-up shares reach 1.137 billion shares, from a total\nauthorised capital of 2 billion shares with a nominal value of Rp100 per\nshare. The EGMS schedule includes the official announcement to the\npublic regarding the EGMS and disclosure on 6 April 2026. Shareholders\nentitled to attend the EGMS are determined through the Shareholder\nRegister (DPS) on 20 April 2026, followed by the EGMS summons on 21\nApril 2026. The EGMS is scheduled to take place on 20 May 2026. SUPR\nwill submit the tender offer statement to the OJK and announce it to the\npublic on 22 May 2026. The effective statement from the OJK is expected\nto be obtained on 11 June 2026, followed by the possible announcement of\namendments or final additional information on 12 June 2026. The\nvoluntary tender offer period is expected to start on 15 June 2026 and\nend on 14 July 2026. Payment to participating shareholders is planned no\nlater than 26 July 2026, while reporting the results of the offer to the\nOJK is scheduled for 7 August 2026. In the subsequent stages, the\ncompany also targets approval from the Minister of Law regarding changes\nto the articles of association on 20 January 2027. Next, the submission\nof withdrawal of registration statement effectiveness to the OJK is\nexpected on 29 January 2027, with the effective withdrawal by the OJK on\n18 February 2027. The end of this series is delisting from the BEI and\ntermination of collective custody by the Indonesia Central Securities\nDepository (KSEI), both projected to occur on 10 March 2027.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/unable-to-meet-free-float-requirement-supr-plans-delisting-1775641902",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}