Cakra Mineral (CKRA) shares will be delisted from the IDX next week

Reporter: Wahyu Tri Rahmawati | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. PT Cakra Mineral Tbk (CKRA) will be the fifth issuer to write off the alias delisting from the Indonesia Stock Exchange (IDX). IDX will remove the listing of CKRA shares effective on Friday (28/8) next week.

IDX is still trading CKRA shares in the negotiation market until Thursday (27/8). The trading of Cakra Mineral shares in this negotiation market has been going on since July 27, 2020.

“In order to provide opportunities for Cakra Mineral (CKRA), to be able to transact on the Exchange before it becomes effective forced delisting, then the IDX decided to lift the temporary suspension of trading in the Company’s securities only in the Negotiation Market in the first securities trading session on Monday, July 27, 2020, “said IDX in the stock exchange announcement, Friday (24/7).

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Delisting this takes into account the provisions in Exchange Rule Number II concerning Delisting and Shares Relisting on the Exchange. The delisting of CKRA shares takes into account conditions or events that have a significant negative effect on the business continuity of the Listed Company, either financially or legally, or on the continuity of the status of the listed company as a public company, and the listed company cannot show an indication of adequate recovery.

The write-off was also carried out by considering the suspension of shares carried out in the regular market and the cash market, and had only been traded in the negotiated market for at least the last 24 months.

In an information disclosure dated July 7, 2020, Cakra Mineral revealed that this issuer canceled the acquisition transaction in connection with a plan to improve performance. “The cancellation occurred because there was no agreement on the negotiation process for the acquisition plan to be carried out by the company,” said Dexter Sjarif Putra, Director / Corporate Secretary of Cakra Mineral in a report to the IDX.

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