PT AKR Corporindo Tbk as a public company under Indonesian Law, the Company is obliged to protect the rights of all shareholders. One of practice to reach that is by implementing Policy of Period of Blackout For Transaction of Sale and Purchase of AKRA Shares to prevent Insider Trading. This period is a limitation for Insiders who are inside the Company, who are aware of Material Information that has not been published.
This Policy is the basis of the Company to ensure that there are no violation of Good Corporate Governance or laws & regulation related to Insiders of the Company who wish to do Stock Transaction including its Affiliates.
- During the Blackout Period, Insiders of the Company who possess Material Information are prohibited from conducting Share Transaction, including but not limited to: a) Give orders/instructions to execute selling or buying of AKRA shares; b) Influencing other parties to conduct Share Transaction by providing Material Information as the Insiders for personal benefit.
- At the time of the Blackout Period announcement, insiders who still have Share Transaction order that has not been executed must cancel the order
The Corporate Secretary Office must ensure that the cancellation of the Share Transaction has been carried out.
The Company's Blackout Period is carried out 10 (ten) calendar days before the Company's Financial Statements, whether quarterly, mid-year, or annual, are released to the public through the Stock Exchange. The general Blackout period will end on the day of the release date of financial statements to the Stock Exchange.
It is also applied when Material Information related to Corporate Action is owned by Insiders until such information is announced through the Stock Exchange
Each members of the Board of Directors, Commissioners, and/ or the Controlling Company is required to report on Share Transaction and changes to the share ownership of the Company to the Corporate Secretary Office, to be reported to the Stock Exchange and the Financial Services Authority within 3 (three) calendar days since Share Transaction.
Especially for the Affiliated party with the Company’s Controlling Company, is required to report on Share Transaction and share ownership of the Company to the Corporate Secretary Office, to be reported to the Stock Exchange and the Financial Services Authority on monthly report.