JAKARTA. PT Logindo Samudera Makmur Tbk (LEAD), an oil and natural gas services company, will carry out additional capital without granting pre-emptive rights (PMTHMETD) or private placement.
This corporate action was carried out by LEAD in the context of financial restructuring. Currently, the companys net working capital is recorded at minus US$3.02 million, with total liabilities of US$102.6 million and total assets of US$126.15 million.
The percentage of total liabilities exceeds 80% (eighty percent) of total assets as required in POJK 14/2019, explained LEAD Management, in an information disclosure on the Indonesia Stock Exchange (BEI).
The number of shares to be issued by LEAD in the private placement is 1.75 billion shares or the equivalent of 30.17% of the issued and fully paid capital. Later, the funds from the private placement will be used to pay part of the companys debt.
LEAD management will seek approval from the Extraordinary General Meeting of Shareholders (GMS) regarding the corporate action plan, on November 14, 2024. (KR/LM)