Duck King Operator Delays Share Buyback Amid Plans to Go Private

Jakarta - The restaurant company PT Jaya Bersama Indo Tbk (DUCK) has provided an update on the continuation of its plan to cancel its listing on the Indonesia Stock Exchange (BEI) and change its status from a public to a private company (go private). Management conveyed its apologies for not yet fulfilling the obligation to conduct a share buyback within the stipulated timeframe, which was set for no later than 10 May 2026, and for not having commenced the buyback process. The company stated it fully understands that this obligation must be met in accordance with the deadline set by the BEI. As of now, the company is facing several obstacles affecting its ability to execute the buyback, causing the delay. In connection with this, the company is currently undertaking internal resolution efforts. The company explained that the current obstacles are ensuring that all stages of the buyback implementation and the change of status from a public to a private company will be carried out in accordance with applicable laws and regulations. Furthermore, management stated that in the process of implementing the buyback and going private, the company is currently conducting intensive consultations with management and supporting professionals who will be involved in the process. The aim is to formulate the necessary steps and timeline, as well as to ensure readiness for the buyback implementation in compliance with the prevailing laws and regulations. The company remains committed to fulfilling all obligations related to the cancellation of its securities listing on the BEI and the go private process. The company hopes for direction and support from the Financial Services Authority (OJK) regarding the buyback and go private plan so that its implementation can be conducted in an orderly manner, in accordance with regulations, and provide legal certainty for all related parties.