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By completing the transaction in the second quarter, we expect our position will further strengthen as an integrated energy and natural resource company.
We will continue to deliver on our plans and commitments for the benefit of all our stakeholders.” Click here to download Roberto Lorato, CEO, said “Our year end results were solid, with higher EBITDA and improved operating margins from continued cost discipline.
Financial Highlights Hilmi Panigoro, President Director, said “The Company performed very well in 2018 despite a challenging business environment and our financial position has further strengthened on the back of our strong operational performance in the Oil, Gas and Power businesses.
The recent approval by Ophir Shareholders is clearly a milestone demonstrating our maturity and capability to manage a complex, multi-jurisdictional transaction.
Closing the transaction in second quarter will further strengthen our position as a regional integrated energy and natural resources company.” Jakarta, 10 November 2018 – PT Medco Energi Internasional Tbk (“Medco Energi” or the “Company”) announced the Limited Review of its consolidated financial statements for the period ending 30 September 2018 (“9M 2018”).
Roberto Lorato, CEO of the Company said that “Our nine months results were solid, with higher EBITDA and improved operating margins from continued cost discipline.
We commit to maintain the world-class standards of safety, environmental stewardship and social responsibility, as well as high quality workforce.Medco Energi is committed to contribute to the Nation’s economic growth and development.We have taken concrete actions to revamp our sustainability policies and business practices and take our strengths in the Energy sector for the benefit of the community in Indonesia.In 2015 we set a net debt to EBITDA target of 3.0x and I am pleased to see further incremental progress to meeting that target.” Hilmi Panigoro, President Director of Medco Energi, said that “I am pleased with the nine-month results and to announce the issue of our Sustainability Report which clearly lays out the Company’s commitment to long term goals for best practice sustainable operations and development.” Click here to download Jakarta, 15 November 2018 - PT Medco Energi Internasional Tbk ("Medco Energi" or the "Company") held an Extraordinary General Meeting of Shareholders today and obtained shareholder approval for a Capital Increase Without Pre-emptive Rights for up to 10% (ten percent) of the Company’s issued and paid-up capital.The issuance expected to be completed within two years period for a new minimum price of Rp 868 per share, being the average closing price for the previous 25 trading days prior to the announcement.
Moving forward, we will continue to invest in the future.