WSBP Fulfills Creditors' Rights through Private Placement Phase 4

Jakarta (ANTARA) – PT Waskita Beton Precast Tbk (ticker code: WSBP) has announced the corporate action plan of Capital Increase without Pre-emptive Rights (PMTHMETD) or Private Placement Phase 4 by issuing new series C shares totaling 751.47 million shares which is targeted to be carried out on March 26, 2025. This corporate action is part of the implementation of WSBP's obligation to fulfill the rights of creditors in accordance with the Peace Agreement (homologation).

Private Placement Phase 4 is part of the implementation of Tranche D based on the homologation decision stipulated 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 obtained 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.

“We place obligations to creditors as the top priority in restructuring. Through the Private Placement, WSBP fulfills its responsibility to ensure that all creditors obtain their rights in accordance with the applicable and agreed scheme,” said Fandy Dewanto, VP of Corporate Secretary.

The implementation of this corporate action has gone through the stage of verification of bills and administrative documents of creditors to ensure that the entire process takes place in an accountable and transparent manner. The listing of shares from the Private Placement will be carried out on March 27, 2025, followed by the announcement of the results on April 8, 2025.

In addition to the Private Placement, WSBP has also allocated company cash for the payment of Cash Flow Available for Debt Services (CFADS) phase 5 which will be carried out on time on March 25, 2025. CFADS will be distributed to creditors belonging to Tranche A & B of the Peace Agreement, namely banking creditors, bondholder creditors, and trade creditors (vendors). Since March 2023, WSBP has made 4 stages of CFADS payments with a total value paid to creditors of IDR320.85 billion.

“Compliance with the homologation decision is not only a form of commitment, but an obligation that we must carry out to ensure the sustainability of the company and maintain the trust of all stakeholders,” concluded Fandy.

WSBP continues to demonstrate its consistency in fulfilling payment obligations to all creditors, in line with the principles of Good Corporate Governance (GCG) and the implementation of strong risk management in every strategic decision making. Through the settlement of these obligations, WSBP believes it can maintain operational stability and business sustainability, while providing added value to all stakeholders.