Mitratel Prepares IDR 2.98 Trillion for Share Buyback

PT Dayamitra Telekomunikasi Tbk. (MTEL), known as Mitratel, has set aside a maximum of IDR 2.98 trillion to buy back shares from shareholders who do not approve of the company’s merger plan. This move follows the Extraordinary General Meeting of Shareholders on 30 June 2026, which approved the merger of MTEL with PT Persada Sokka Tama and PT Ultra Mandiri Telekomunikasi.

In its disclosure to the Indonesia Stock Exchange, MTEL stated that shareholders who legally object to the corporate action are entitled to have their shares repurchased by the company in accordance with Article 62 of the Limited Liability Company Law. The company has set the buyback price at IDR 515 per share, based on the closing price of MTEL shares on 8 May 2026, coinciding with the submission of the merger plan summary.

MTEL explained that the maximum number of shares eligible for repurchase is 5,783,251,844 shares, equivalent to 6.93% of its issued capital. Consequently, the total maximum funds prepared for the buyback amount to IDR 2,978,374,699,660. Should the number of shares tendered for repurchase exceed this limit, parent company PT Telkom Indonesia (Persero) Tbk. will act as a standby buyer, purchasing all excess shares that MTEL cannot directly acquire.

Shareholders eligible to participate in this scheme are those recorded in the shareholder register as of 5 June 2026, who attended the Extraordinary General Meeting of Shareholders, legally expressed their dissent to the merger, and completed the Share Sale Statement Form. The form submission period runs from 3 to 10 July 2026, with payment to qualifying shareholders scheduled for 17 July 2026 through the KSEI mechanism, after deducting transaction costs and other applicable obligations.