LINK NET SHAREHOLDERS APPROVE APPOINTMENT OF DIRECTORS, APPROVE REDUCTION IN ISSUED AND PAID UP CAPITAL & APPROVE INCREASING THE MAXIMUM NUMBER OF SHARES THAT CAN BE PURCAHSED VIA THE COMPANY’S SHARE BUYBACK PLAN

Jakarta
December 20, 2018
 
PT Link Net Tbk (“Link Net” or the “Company”; stock code: “LINK”)
 
Link Net Shareholders have approved the appointment of Wonbae Lee as a director and Suvir Varma as an independent director. Wonbae Lee is currently a principal at CVC Capital Partners focusing on Asia Operations. In a career spanning 20 years, Wonbae has held senior executive roles across finance, consulting and healthcare. This includes his role as Head of Asia Life Science and Core Imaging at General Electric, and President of AstraZeneca in Indonesia. Wonbae has successfully led large teams of professionals and will be instrumental in driving further value creations for Link Net. Suvir Varma, is an ex Senior Partner of Bain & Company, where he led the firm’s business focused on Financial Investors across Asia Pacific. He has more than 20 years of experience across consulting and finance-related roles focusing on strategic developments and operational improvements. We warmly welcome both Wonbae and Suvir to our board of directors and look forward to utilizing their robust skills and expertise across our business.
 
Shareholders acknowledge the resignation of director Timotius Sulaiman effective as of June 2018 and approved the resignation of director Edward Sanusi along with the resignation of independent director Surya Tatang. Shareholders also approved the resignation of commissioner Lorne Somerville. We would like to thank Timotius Sulaiman, Edward Sanusi and Surya Tatang for their strong leadership on our board. We would also like to thank Link Net commissioner Lorne Somerville who has provided strong support and supervision in his role. Shareholders approved the resignation of Sigit Prasetya from his position as a director of Link Net and further approved Sigit Prasetya’s new role as a commissioner of Link Net. We look forward to Sigit’s continued guidance as a commissioner of the Company.
 
Until 30 November 2018, Link Net had 130,908,300 treasury shares. Link Net’s shareholders approved the reduction of issued and paid up capital by 130,908,300 shares by share withdrawal derived from the shares bought back by the Company. Upon approval by the Ministry of Law and Human Rights, Link Net’s issued and paid up capital will be reduced from 3,042,649,384 to 2,911,741,084 shares.
Shareholders approved the additional number of shares that can be purchased via the Company’s buyback by a further 75,146,002. The maximum number of shares that can be purchased are 291,174,108, at a maximum buyback price of Rp6,000 per share.
 
The Company’s President Director and Chief Executive Officer, Mr. Marlo Budiman, commented on the meeting: The approval of reducing the Company’s issued and paid up capital and approving the additional buyback is expected to be value accretive for shareholders by incrementally increasing the shareholders percentage ownership of the Company and by increasing the Company’s earnings per share. Appointing two new high caliber and internationally experienced directors highlights Link Net management’s continual focus on driving shareholder returns through efficient capital management and recruiting high quality employees.
 
About PT Link Net Tbk

PT Link Net Tbk ("Link Net"), owns and operates a high-speed broadband network in Indonesia, offering high speed internet and cable tv to both residential and enterprise clients.

Learn more at www.ir.linknet.co.id
 
For further information, please contact:

Joel Ellis
Head of Investor Relations
PT Link Net Tbk
Tel: +62 812 911 77785
Email: Joel.Ellis@linknet.co.id
© 2017, PT Link Net Tbk