Ensure All Creditors' Rights are Fulfilled, WSBP Conducts Private Placement Phase 3

Jakarta (ANTARA) PT Waskita Beton Precast Tbk (ticker code: WSBP) carried out its tranche D homologation commitment through a corporate action of Penambahan Modal Tanpa Hak Memesan Efek Terlebih Dahulu (PMTHMETD) or Private Placement of Phase 3. This step is part of the implementation of the homologation restructuring scheme agreed upon by the creditors. This step is also an effort by WSBP so that all creditors get their rights.

Private Placement is one of WSBP's obligations in complying with the homologation that has been approved by the Panel of Judges of the Commercial Court at the Central Jakarta District Court through case register No. 497/Pdt.Sus-PKPU/2021/PN.Niaga.Jkt.Pst dated June 28, 2022 and has permanent legal force based on the Decision of the Supreme Court of the Republic of Indonesia No. 1455 K/Pdt.Sus-Bankruptcy/2022 dated September 20, 2022.

“This Private Placement phase 3 is carried out after going through the process of verifying the value of bills and the completeness of administrative documents to creditors. Verification is an important step to ensure all processes are transparent, accurate, and maintain the trust of stakeholders. With this corporate action, we ensure that all creditors get their rights,” said Fandy Dewanto, VP of WSBP Corporate Secretary Division.

The implementation of Private Placement Phase 3 was carried out as a continuation of the implementation of the Tranche D scheme of the Peace Agreement. The company set the date of the Private Placement Phase 3 on November 20, 2024 and the listing of shares resulting from the corporate action on November 21, 2024. Then the notification of the results of Private Placement Phase 3 on November 22, 2024.

Along with the implementation of Private Placement Phase 3, the total issued and paid-up share capital of the Company will increase from 54.91 billion shares to 55.09 billion shares.

WSBP's compliance with the implementation of the homologation restructuring scheme is also reflected in WSBP's consistency in carrying out its Cash Flow Available for Debt Services (CFADS) payment obligations that have taken place 4 stages on time with a total value of Rp320.85 billion.

WSBP also settled the debt of Financial Creditors (banks) through the Long Term Loan scheme for 17 years which has supported the Peace scheme. Also the settlement of 85% of the total bills of Bondholder Creditors through Mandatory Convertible Bonds (OWK).

“The strategic steps we have taken to ensure that WSBP complies with the homologation and maintains the trust of our shareholders, creditors, and partners,” Fandy added.

WSBP always carries out payment commitments to all creditors in a timely manner in accordance with the company's commitment to implementing Good Corporate Governance (GCG) and solid risk management in every strategic step. With the settlement of these obligations, WSBP is optimistic that it can maintain its business stability and sustainability, and provide added value to all stakeholders.