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PT Pan Brothers Tbk. has officially received an effective statement from the Financial Services Authority (OJK) to carry out corporate actions, namely Capital Increase with Pre-emptive Rights (PMHMETD) IV or rights issue. This effective statement was made on Thursday last week, January 5, 2023 Previously, this corporate action was approved at the Company's Extraordinary General Meeting of Shareholders (EGMS), as contained in the Deed of Minutes of the Pan Brothers Extraordinary General Meeting of Shareholders on 15 September 2022.

Pan Brothers will conduct a rights issue to the company's shareholders of a maximum of 15,003,732,635 ordinary shares with a nominal value of IDR 25 per share, or 69.84 percent of the issued and fully paid-up capital of the Company after PMHMETD IV with an exercise price of IDR 50 per share.

That way, the amount of funds that will be received by Pan Brothers in this rights issue is a maximum of IDR 750,186,631,750 or IDR 750 billion when rounded up.

For this, PT Trisetijo Manunggal Utama provides funds as much as Rp 750,000,000,000 as the main shareholder of the company with 27.99 percent ownership to exercise all Preemptive Rights which become its rights as many as 4,199,611,654 shares with an exercise price of Rp 50 per share. Then a total of IDR 209,980,582,700 or around IDR 209 billion.

The company will then buy a portion of the remaining shares that are not subscribed by other HMETD holders either through exercise of HMETD or through additional share orders for a maximum of 10,800,388,346 shares or an equivalent of IDR 540,019,417,300 or around IDR 540 billion.

If after purchasing the remaining shares from PT Trisetijo Manunggal Utama, there are still remaining shares in this PMHMETD IV, then these shares will not be issued from the portfolio. Each holder of 250 shares whose name is registered in the Register of Shareholders (“DPS”) of PBRX at closing

share trading according to the recording date which falls on January 17, 2023, entitled to 579 Preemptive Rights.

As for the shareholders who do not take part in the HMETD which they are entitled to, they will be affected by a dilution of ownership of 69.84 percent from the percentage of ownership before the PMHMETD.

The funds obtained by the textile company from PMHMETD IV, after deducting all costs related to PMHMETD IV, will be used for working capital to support Pan Brothers' business development.

A number of Pan Brothers' business development plans include increasing sales, which includes raw material costs, in the form of purchasing high-quality fabrics that meet buyers' specifications; production and maintenance costs; as well as operational and marketing costs.