Jakarta - PT Selamat Sempurna Tbk (SMSM) and PT Selamat Sempana Perkasa (SSP) plan to merge.

Based on the company's information disclosure submitted to the IDX on Monday (6/6), this merger plan was approved by the SMSM and SSP commissioners on June 3, 2022.

Furthermore, the SMSM and SSP GMS must approve the business combination plan. Therefore, SMSM's GMS will be held on July 28, 2022, to seek shareholder approval regarding the proposed merger.

In the proposed merger, SSP will merge with SMSM. SMSM will be the recipient of the merger, and after the merger becomes effective, SMSM will remain a public company listed on the IDX.

SSP is SMSM's controlled company, with SMSM owning 100% of SSP's shares.

The proposed merger aims to create greater business power in negotiating with various vendors to achieve synergies and good operational efficiency.

There is no termination of employment for SMSM or SSP employees in