Astra EGM Approves Rp8 Trillion Share Buyback Plan

The Extraordinary General Meeting of Shareholders (EGM) of PT Astra International Tbk (ASII) has approved a share buyback with a maximum value of Rp8 trillion. The approval was one of the main agendas decided at the meeting. The buyback will be carried out in reference to Financial Services Authority Regulation (POJK) Number 29 of 2023, with the maximum repurchase value of Rp8 trillion. This value excludes brokerage fees and other costs arising during the implementation process. Astra President Director Rudy expressed appreciation to all shareholders and stakeholders for their continued support of the company’s performance. In addition to approving the buyback programme, shareholders also granted authority to Astra’s Board of Directors to undertake all necessary steps in its implementation, including setting the share repurchase price in accordance with prevailing laws and regulations. At the same EGM, shareholders also approved the transfer of a portion of treasury shares resulting from the third-period buyback programme, with a maximum of 100 million shares to be used for the Management Stock Ownership Programme (MSOP). The Nomination and Remuneration Committee was authorised to determine the exercise price for the share transfer and the payment obligations to be fulfilled by participating management members. The Board of Directors also received a mandate to complete all administrative processes and other necessary actions to ensure the MSOP implementation complies with regulations. The management stock ownership programme is a common long-term incentive scheme used by publicly listed companies, aimed at aligning management’s interests with those of shareholders in sustainably increasing corporate value.