After Being Acquired by Korean Giant, Three SGRO Directors Resign Together

Jakarta, CNBC Indonesia - The listed palm oil issuer PT Prime Agri Resources Tbk. (SGRO) has announced the resignation of three members of its board of directors. In a disclosure dated 28 April 2026, the company announced that the three directors have submitted their resignation letters separately.

First, on 24 April 2026, Hero Djajakusumah submitted his resignation letter from his position. Then, Budi Setiawan Halim and Eris Ariaman submitted their resignation letters on 27 April 2026.

SGRO stated that the resignation requests of Budi Setiawan Halim, Hero Djajakusumah, and Eris Ariaman from their respective positions will be discussed and decided at the company’s General Meeting of Shareholders, to be held within the timeframe in accordance with applicable laws and regulations and the company’s Articles of Association.

As a reminder, Prime Agri Resources was previously known as Sampoerna Agro. The company, previously owned by the Sampoerna family, changed its name after being officially acquired by AGPA Pte. Ltd., a subsidiary of South Korea’s POSCO International Corporation.

AGPA Pte. Ltd. purchased 1.2 billion (62.7%) shares of SGRO from Twinwood Family Holdings Limited. Based on the disclosure on the Indonesia Stock Exchange, Friday (21/11/2025), the transaction price was at Rp 7,903 per share, resulting in a total transaction value of Rp 9.4 trillion. The transaction took place on 19 November 2025.

Shortly after the acquisition, SGRO, through its subsidiary PT Sungai Menang, sold an 80% stake in PT Hutan Ketapang Industri for Rp 990 billion to Sampoerna Agri Resources Pte. Ltd., which is an affiliate of SGRO’s controlling shareholder.