Jakarta - PT Merdeka Copper Gold Tbk (MDKA) plans to buy back 0.5% of treasury shares with an allocation of Rp600 billion.

Based on the company information disclosure on Monday (5/9), the EGMS with the agenda of getting shareholders' approval for the share buyback plan will take place on June 10, 2022.

According to the company, the stock buyback plan is carried out so that the company has the flexibility to maintain stock price stability if the company's share price does not reflect the company's true value and to run a long-term incentive program for employees and management.

It is hoped that the implementation of the plan will not affect the company's business activities and operations but will make stock prices more stable in the future and have a positive impact on shareholders and the company.

The company appointed PT Indo Premier Sekuritas to carry out the share buyback plan.