Surya Semesta launches ESOP

JAKARTA (JP): An extraordinary shareholders meeting of publicly-listed PT Surya Semesta Internusa real estate and hotel developer on Friday decided to launch an employee stock ownership plan (ESOP) covering 36.98 million shares or 5 percent of the company's issued shares.

The company announced that the 36.98 million shares would constitute new stocks taken out of its authorized, but unissued equity capital.

It added that the ESOP, designed to improve employee loyalty and work spirit, would increase Surya Semesta's issued shares to 776.59 million, each with a par value of Rp 5000.