JAKARTA, 22 February 2022 – PT Cashlez Worldwide Indonesia Tbk (CASH) through the Extraordinary General Meeting of Shareholders (EGMS) which was held on Monday, 21 February 2022, approved the Company’s plan to increase capital with pre-emptive rights (HMETD) or rights issue.

 

President Director of PT Cashlez Worldwide Indonesia Tbk Suwandi explained, after shareholder approval at the EGMS, the entire rights issue process will be carried out after the Registration Statement has been declared effective by the Financial Services Authority (OJK) in accordance with applicable laws and regulations.

 

Suwandi added, the funds from the rights issue will be used for the Company’s working capital in business development and merchant acquisition in order to support the Company’s business activities.

 

"As we know, digital transformation has grown rapidly along with the acceptance of digitalization that has changed people’s lifestyles, both from the consumer and business perspectives. This also encourages the Company to continue to develop its business in presenting the solutions needed, especially for business owners. The Company wants to strengthen the capital structure in order to realize the long-term plans that have been set to develop business activities, the Company’s performance, increase competitiveness in relevant industries and the Company’s inorganic growth in order to develop a national digital payment ecosystem, one of which is through Mergers and Acquisitions (M&A). ,” said Suwandi.

 

The Company’s Extraordinary General Meeting of Shareholders agreed to issue a maximum of 450,000,000 (four hundred and fifty million) new shares to be released in this rights issue.

 

"The shareholder approval at the EGMS is expected to continue the Company’s long-term plan in strengthening the Company’s capital and business lines including the development of products, services and features; expanding the reach of merchant acquisitions, as well as developing human resources (HR).” stated Suwandi.

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