PT Plaza Indonesia Realty Tbk (PLIN) is rescheduling its rights issue plan to comply with provisions V.1 of Rule I-A regarding the listing of shares and equity securities other than issued shares.

The company's right share issue plan has got approval from the shareholders on the extraordinary shareholder meeting held on March 20, 2020, Director of Plaza Indonesia, Evy Tirtasudira said.

However, the plan has yet been realized due to the ongoing Covid-19 pandemic situation.

"Especially with the re-enactment of Restrictions on Community Activities (PPKM) and uncondicive condition of the capital market, which greatly affects the interest of public shareholders and public investors to participate in the exercise of right issue plan. The company together with other supporting institutions and professionals are still trying to compile a feasible timeline by considering market conditions, "said Evy in the official statement, on Friday (15/10).

As a result of these conditions, he emphasized, until the deadline for the extension of the fulfillment of provisions V.1 IA Regulation given to the company, namely until December 31, 2020, the number of shares owned by public shareholders is less than 7.5% of all paid-up capital. 

Therefore, on January 12, 2021, the Exchange suspended Plaza Indonesia shares from trading on the regular and cash markets starting session 2.