Lippo Cikarang, Bekasi, Indonesia
Wednesday, November 8, 2017

PT Lippo Cikarang Tbk (“LPCK”) today announced at its Extraordinary Shareholders Meeting (“EGM”) details of its right issue plan and changes to its Board of Directors and Board of Commissioners which has been accepted and ratified by the EGM.

In this right issue, existing shareholders will be given pro rata rights to subscribe up to  300.000.000 new shares. Shareholders owning 4 shares will be given the rights to subscribe 1 new share. Shareholders who do not exercise their rights will be diluted by up to 27,04%.

LPCK intends to use the proceeds from the rights issue as follows:

1. To finance the development or expansion of the Company’s business, through its Subsidiaries, directly or indirectly, including the acquisition/purchaseof assets and/or shares, which can synergize with LPCK and its Subsidiaries and also provide additional benefits and support to LPCK’s business activities, and
2. To fund working capital of  the LPCK and/or Subsidiaries.

In addition to the rights issue, LPCK also announced changes to its Board of Commissioners amd Board of Directors and as follow:

President Commissioner         :           Ketut Budi Wijaya

Independent Commissioner    :           Hendry Leo

Independent Commissioner    :           Hadi Cahyadi

Independent Commissioner    :           Didik Junaedi Rachbini

Commissioner                         :           Sugiono Djauhari

Commissioner                         :           Wijaya Subekti

 

President Director                   :           Ivan Setiawan Budiono

Director                                   :           Hong Kah Jin

Director                                   :           Ju Kian Salim

Director                                   :           Hartono Tjahjana G.

Director                                   :           Alexander Yasa

Independent Director             :           Sony

Independent Director             :           Juvantia

The newly appointed President Director of LPCK, Ivan Budiono stated, “I would like to thank the Shareholders for supporting the Rights Issues plan so that LPCK can expand its business according to its mission and vision. I am grateful for your trust and confidence in LPCK. Additionally I would like to extend our gratitude towards the outgoing members of the Board of Directors and Board of Commissioners for their contribution and guidance during their tenure. I also would like to congratulate the new members of the Board of Directors and Board of Commissioners for their appointments. Their extensive backgrounds and practical experience in their field will further strengthen LPCK’s management, operations and governance in their new role.”

LPCK is an urban development with a total development rights of  3,250 hectares, with the designated industrial areas as its base economy. Lippo Cikarang has succeeded in building more than 14,000 residences, with a population of 50,720 residents in addition to 484,300 people working daily in 993 light manufacturing companies across Lippo Cikarang industrial area.
LPCK is a Subsidiary of PT Lippo Karawaci Tbk (“LPKR”). LPKR is the largest property company in Indonesia based on its total asset and revenue. It is listed at the Indonesia Stock Exchange, and supported by a solid land bank and Recurring Income.

LPKR businesses consist of Residential/Township, Retail Malls, Hospitals, Hotels and Asset Management.

LPCK is listed on the Indonesian Stock Exchange with a market capitalization of Rp 2,6 trillion, or equivalent to US$ 196 million as of October 31, 2017.

 

For further information please contact:

Hong Kah Jin
Director
PT Lippo Cikarang Tbk
[email protected]

 

Dea Thamrin
Corporate Secretary
PT Lippo CiKARANG Tbk
[email protected]

visit our website: www.lippo-cikarang.com