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Monday, August 8, 2011

Myoh Technology Cooperation Plan to Have Reverse Stock - 8 : 1

PT Myoh Technology Corporation, developer of information technology for the hospitality industry, plans to merge the company's shares and the value of shares (reverse stock) with a comparison of 8:1.

In the Indonesia Stock Exchange of information disclosure, Director of Myoh Technology Dedet Yandrinal said the planned merger of shares will also increase the par value per share of the company. The plan was submitted involving reverse stock with plans to seek approval of its shareholders in general extraordinary meeting shareholders (EGM).

"Every eight nominate Rp25 shares will be amended into 1 become Rp200 shares of nominal value," he said this afternoon. However, the company did not specify the purpose of corporate action.

EGM's, he said, planned to be held on 12 September. In addition to combining the shares, the company also has other EGM agenda is an increase in the authorized capital of the company and the adjustment with Bapepam-LK.

The adjustment was made referring to the Bapepam-LK No.IX.JI on the Principles of the company's Articles of Association of Performing Public Offering of Equity Securities and Public Companies.

Technology Myoh shareholders of PT Daccom Indonesia by 31.32%, PT Asia Kapitalindo 14.60% Securities Tbk, PT Janisia Investama 13.43%, PT Nictyrank Hutama 8.67% Arta, PT Citra Aniko Joint 8.09% , and PT Buana Adhika Prabha 7.28%. Other shareholders are the Tommy Bunarjo public as much as 6.25% and 10.35%.

Companies affiliated with the Development of PT Graha Lestari Indah Tbk through Jaegopal Hutapea who became chief executive in Development Graha Lestari and became commissioner in Myoh Technology.

Company's share price is coded MYOH still stagnant at the level of Rp50, its lowest level for stock prices. Price formed a market capitalization amounting to Rp84, 05 billion.

Stock prices are very illiquid company had been stagnant at the level of Rp175 from 2006 to 2007. The movement of new shares in late 2007 due to drop to as low as Rp50 and relatively survive at that level until today.

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