JAKARTA (TheInsiderStories) – The operator of two television stations, PT Elang Mahkota Teknologi Tbk (IDX: EMTK) or EMTEK, plans to split the shares with ratio 1:10, said the management on Thursday (12/17). The holding company also aims to extend the maturity of the convertible bond with the principal amount of US$70 million.
According to the director, Titi Maria Rusli, the subsidiary, PT Elang Andalan Nusantara, has signed an amendment with API (Hongkong) Investment Ltd., to extend the notes term from 12 to 24 months. The notes was issued on March 20. 55 percent of the company owned by PT Kreatif Media Karya, unit of EMTEK.
EMTEK is a media group and run two television station, SCTV and Indosiar, through the publicly listed firm, PT Surya Citra Media Tbk (IDX: SCMA). Currently, the television provider plans to buyback shares up to 20 percent of enlarged and paid up capital. For the program, the issuer prepared funds Rp1.3 trillion ($92.20 million) and had been carried out since Sept. 9 to Dec. 8, 2020.
Last year, one of the largest media in Indonesia has acquired 99 percent of PT Vidio Dot Com shares with values of Rp104 billion from PT Mediatama Anugrah Citra. The provider is a video streaming service that also provides sports, music, entertainment and film content services.
Then, EMTEK bought 51 percent at PT Kapanlagi Dot Com Network for Rp174.7 billion. The issuer also acquired 99 percent of PT Binary Ventura Indonesia shares which owns 60 percent ownerships in PT Estha Yudha Ekatama and 50 percent stake in PT Samara Media Entertainment with a value of Rp45.45 billion.
Recently, the issuer has completed the purchase of 4.24 million shares or 71.88 percent of all issued and fully paid shares in PT Sarana Meditama Metropolitan Tbk (IDX: SAME), the operator of Omni Hospitals. The purchase price was Rp137 a share or in total Rp581 billion
In the first half of this year, EMTEK earned Rp2.36 trillion in revenues, dropped 14.49 percent compared to 2019 worth of Rp2.76 trillion. The net profit also fell 23.20 percent from Rp782.48 billion to Rp600.91 billion. In details, revenues from advertising Rp2.71 trillion or a 12.58 percent decreased compared to last year worth of Rp3.10 trillion and other income also fell from Rp281.14 billion to Rp175.87.
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