WSBP stated its readiness for the payment obligations of stage 4 creditors. This payment obligation is carried out through Cash Flow Available for Debt Services (CFADS) on September 25, 2024.
“We have prepared creditor payments with CFADS phase 4 with a value of at least IDR 75 billion. With this payment, WSBP shows its consistency in complying with holomogation like the previous 3 stages as authorized and agreed with creditors,” said Fandy Dewanto, VP of Corporate Secretary of WSBP.
WSBP is consistent in making payment obligations. Under the leadership of Erick Thohir, WSBP not only successfully completed the financial restructuring process through homologation, but alsocarried out payment commitments to all creditors in a timely manner. To date, WSBP has paid 3
tranches of CFADS totaling Rp236.27 billion on time. This demonstrates the company's commitment in carrying out all obligations to creditors consistently.
The source of funds for payment of creditors with CFADS stage 4 comes from operating income and auction of disposal assets. With these measures, WSBP is optimistic that it can maintain the trust of shareholders, creditors, and suppliers and support the sustainability of the company's business going forward.
WSBP will also carry out Private Placement Phase 2 by issuing 350.78 million common shares as a continuation of the implementation of the Tranche D scheme of the Peace Agreement. The company set the implementation date of the Private Placement Phase 2 and the listing of shares resulting from the corporate action on September 3, 2024. Then the effective date of the listing of shares resulting from the Private Placement Phase 2 on September 4, 2024. The notification of the Private Placement results will take place on September 5, 2024.
“This Private Placement Phase 2 is an important step in WSBP's efforts to strengthen its capital structure and demonstrate our commitment to consistent homologation,” Fandy added.
With the issuance of these additional shares, the Company's issued and paid-up share capital will increase from 54.55 billion shares to 54.91 billion shares.
WSBP always implements Good Corporate Governance Principles and solid risk management in every strategic step. With the payment of creditors with CFADS phase 4 and Private Placement Phase 2, WSBP not only fulfills its obligations according to the Settlement Agreement but also shows its determination to maintain the trust of shareholders, creditors, and partners.
Reporter: PR Wire
Editor: PR Wire
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