The Extraordinary General Meeting of Shareholders (EGMS) of PT Trisula International Tbk (TRIS) decided to buy back the company's shares within the period of May 27 to November 26,  2022.

TRIS will buy back shares of no more than 10% of the paid-up capital or a maximum of 314,144,380 shares.

President Director Trisula Santoso Widjojo said, in the EGMS held today, the stakeholders have approved TRIS's plan to buy back the company's shares as much as 10% of the paid-up capital, with a maximum cost of around Rp40 billion, including brokerage fees and other expenses.

"We plan to buyback shares because we see that the company's current share price does not reflect actual value or performance. Through share buyback can provide flexibility for the company in managing long-term capital, where treasury shares can be sold in the future at an optimal value if the company requires additional capital, "he said in a virtual public expos