The agreement was signed on December 10, 2021. Then, the effective statement of the cooperation agreement was signed on December 22, 2021. "The transaction value exceeds 20 percent of Hartadinata's equity, so it is categorized as a material transaction," said Sandra Sunarto, Main Director of Hartadinata Abadi, as reported by Indonesia Stock Exchange (IDX), Friday (24/12).

 

Referring to POJK No.17/POJK.04/2020, there are exceptions to material transactions. Where, based on Article 13 paragraph (1) it is stated that a public company is not required to comply with the provisions referred to in Article 6 paragraph (1) if carrying out material transactions is an activity to generate business income and or is carried out routinely, repeatedly and continuously.
 Based on this provision, the Hartadinata Abadi transaction is excluded. Seeing the signing of the agreement on the production and sale of gold as the main business, is the intent and purpose of the Articles of Association..