PT Merdeka Copper Gold Tbk (IDX:MDKA) announces a share repurchase program. Under the program, the company will repurchase up to 0.5 % of its issued share capital, for a total of IDR 600,000 million worth. The purpose of the program is to allow the company to have the flexibility that enables them to implement a mechanism to maintain the stability of the share price if it does not reflect the actual value/performance of the company; and in order to implement the long-term incentive plan for the employees and/or Board of Directors and/or Board of Commissioners of the company (except the Independent Commissioner of the company) and/or the company's subsidiaries which can promote the performance of the company and/or the company's subsidiaries.

The repurchased shares will be used for the implementation of employee and/or the Board of Directors and Board of Commissioners' stock options program; or will be resold; or will be withdrawn for reduction of capital; or will be used for the conversion of equity securities. The program is subject to shareholder approval to be obtained at the Extraordinary General Meeting which is scheduled to be held on June 10, 2022. The program shall be carried out in stages for a maximum period of 18 months, from the date of passing of the resolution or on December 10, 2023, at the latest.