Tumbuan & Partners (T&P) has assisted PT Maharaksa Biru Energi Tbk. (OASA) in its latest Extraordinary General Meeting of Shareholders (EGMS). The EGMS approved the proposal of raising OASA’s capital through rights issue (Hak Memesan Efek Terlebih Dahulu or HMETD) in 2022 along with the appointment of the new members of the Board of Commissioners of OASA namely, Hariyadi BS Sukamdani as the president commissioner and Cinta Laura Kiehl as the commissioner.

In regards with HMETD, OASA seeks additional capital in order to fund its business expansion by issuing its shares out of its portfolio in HMETD. The use of proceed from HMETD will be allocated to business expansion through acquisition, operational needs support, and assets purchase to support the operational activities.

In this corporate action, T&P advised OASA in the legal aspect of the EGMS and the structure of HMETD. We are delighted to assist OASA in the combine transactions of capital market and acquisition in this particular transaction.

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