Lippo Karawaci Shareholders Approve Rights Issue Plan, Appoint New Directors
Jakarta. Shareholders of industrial township developer Lippo Karawaci, or LPKR, approved the company's plan for a rights issue in an extraordinary shareholders meeting on Friday (15/12).
The company plans to raise Rp 600 billion ($44.22 million) from the rights issue in the first quarter next year from selling 1.45 billion new shares at Rp 600 a piece.
LPKR will use the proceeds to fund business expansion and strengthen its capital.
"I would like to thank the shareholders for supporting this rights issue plan, so LPKR can maintain its ownership in Lippo Cikarang. I am grateful for the shareholders' trust in LPKR," Lippo Karawaci President Director Ketut Budi Wijaya said in a statement.
The company also announced the appointment of new directors as follows:
Board of Directors
President Director: Ketut Budi Wijaya Director: Tjokro Libianto Director: Chan Chee Meng Director: Richard Setiadi Independent Director: Alwi Sjaaf Independent Director: Wijaya Subekti (replacing Jenny Kuistono)
Board of Commissioners
President Commissioner: Theo L. Sambuaga Deputy President Commissioner: Surjadi Soedirja Independent Commissioner: Agum Gumelar Independent Commissioner: Farid Harianto Independent Commissioner: H. Sutiyoso
The Jakarta Globe and Lippo Karawaci are affiliated with the Lippo Group
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