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ANTAM To Conduct Share Buyback

10/13/2008
News Releases

PT ANTAM Tbk (IDX:ANTM; ASX:ATM) announces the company plans to conduct shares buyback program in relation to recent share price performance which is largely affected by the global market conditions. The plan is also intended for capital management of the company's cash for the benefit of its shareholders. 

The buyback period will commence on 13 October 2008 and will finish no later than 3 months from 13 October 2008.  ANTAM appoints PT Bahana Securities as the brokerage firm for the transaction. ANTAM has allocated a maximum of Rp 200 billion for the transaction. The buyback may be concluded earlier if the funds allocated for the buyback (Rp200 billion) are spent before this date or the buyback is terminated by ANTAM.

Pursuant to the existing capital market regulations and among other things, ANTAM prohibits Board of Commissioners, Board of Directors and ANTAM's employees to trade ANTAM's shares during buyback period.

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