P&GI studying way to buy back shares

P&GI studying way to buy back shares

JAKARTA: PT Procter & Gamble Indonesia Tbk (P&GI) said on
Thursday it is considering the best way to comply with the
Jakarta Stock Exchange (JSX)'s order to the firm to buy back its
shares traded on the bourse.

The JSX announced on Wednesday it had decided to delist P&GI
and asked the firm to buy back its shares following the
termination of the contract between P&GI and a Singaporean firm
that is the main source of revenue for P&GI.

P&GI directors advised shareholders to take no action in
relation to their shareholdings in the company until they had
considered the outcome of the review, said P&GI's external
Relations director, Bambang Sumaryanto, in a press statement.

The statement also stated that the delisting would not affect
the availability of Procter & Gamble products in Indonesia.

Procter & Gamble will continue to operate PT Procter & Gamble
Home Products Indonesia (P&GHPI)'s Jakarta business office and
distribution center. P&GHPI imports and distributes Procter &
Gamble products such as Pantene, Head & Shoulders, Rejoice,
Pampers and Olay.

P&GI plans to end its manufacturing activities here in the
middle of next year. --JP