LINK NET ACHIEVES 2 MILLION HOMES PASSED AND SHAREHOLDERS APPROVE SHARE BUY BACK
January 15, 2018
PT Link Net Tbk (“Link Net” or the “Company”; stock code: “LINK”) announced that it achieved 2 million total homes passed as at the end of 2017. Link Net’s shareholders also approved a share buyback at its extraordinary general meeting ("EGM") on Monday the 15th of January 2018.
At their public expose after the EGM, Link Net reported a strong finish to 2017 to achieve a total network size of over 2 million homes passed. This is more than an additional 170,000 homes passed for the year and comfortably beat their guidance of 150,000 homes passed in 2017.
At their EGM on Monday morning the 15th of January, the company’s shareholders approved a share buyback scheme with a price up to Rp6,000 per share, maximum size up to 7.1% of paid-up capital, for a period of 18 months starting from the 15th of January 2018, in line with regulatory requirements.
The Company also proposed and subsequently shareholders approved administrative changes to two of their articles of association in compliance with capital markets legislation.
Irwan Djaja, President Director and CEO, commented on the results, said: “Achieving 2 million homes passed is a significant milestone for Link Net. This is due to the continual hard work and diligence of our rollout, operational and technology divisions. The investment is made possible due to the consistent strong execution of our sales and marketing divisions. They ensure that network utilization remains high across our network thus providing a quick payback on our investment".
Moreover, Irwan Djaja said: “The approval of the share buyback, up to Rp6,000 per share, reflects a strong vote of confidence for Link Net’s prospects from shareholders.”
About PT Link Net Tbk
PT Link Net Tbk ("Link Net"), established in 1996, is the largest provider of services via cable in Indonesia, providing subscription of high quality television services, high-speed next generation broadband internet, and data communications. Link Net operates in Greater Jakarta, Greater Surabaya (including Malang), Bandung, Bali, Medan and Batam.
Link Net owns and operates a network of Hybrid Fiber Coaxial cable ("HFC") and Fiber-to-the Home (FTTH) that provide high-speed internet access services to retail and business customers. Link Net also operates a subscription television channel in collaboration with PT First Media Television (“FMTV”), its subsidiary.
Learn more at www.ir.linknet.co.id
For further information, please contact:
Head of Investor Relations
PT Link Net TbkTel: +62 812 911 77785