Jakarta, 24 July 2024 - PT GoTo Gojek Tokopedia Tbk (“GoTo” or “the Company”) today announced that it intends to seek approval for the cancellation of treasury shares which were acquired during historical buyback initiatives, at the Extraordinary General Meeting of Shareholders (EGMS) which it plans to conduct on 30 August 2024.

Subject to shareholder approval, the Company will reduce capital by canceling 10,264,665,616 Series A shares, all of which were acquired in 2021 and 2022 through pre-IPO buybacks, as well as the Company’s IPO-related greenshoe program. Cancellation of these treasury shares is in line with the obligation to refloat or cancel shares bought back by the Company as mandated by the Financial Services Authority Regulation (POJK) 29/2023 on the Repurchase of Shares Issued by Publicly-Listed Companies. This exercise does not impact the Company’s ongoing share buyback initiatives which were approved by shareholders in June 2024.

GoTo Corporate Secretary, Koesoemohadiani, said: “The cancellation of these treasury shares relates to buyback initiatives that took place prior to IPO, as well as the greenshoe program outlined in our IPO prospectus. The cancellation will add value to our shareholders by reducing the number of shares in circulation, while at the same time ensuring compliance with the relevant law and regulations.”

The Company has also announced that it is seeking its annually recurring approval to increase its capital through Non-Pre-emptive Rights (NPR) share issuance. As an administrative matter, GoTo makes this application each year to maintain flexibility should it determine that raising additional funds is in the Company’s interests. This puts GoTo in line with global peers who are not subject to this requirement. Applying for NPR does not mean the Company intends to execute on it should it be approved and the Company currently has no plans that would require it to increase its capital through a NPR share issuance. 

Koesoemohadiani added: “We are making this application to maintain flexibility should an opportunity that is in the Company’s interest arise or in the event that an unexpected change in the macroeconomic environment necessitates additional funding. We will continue to make this application every year, without necessarily executing on it, as we deem flexibility in this regard to be prudent.”

As of March 31, 2024, the Company had IDR 23.0 trillion or US$1.5 billion in cash, cash equivalents, and short-term time deposits. The Company remains committed to achieving Group adjusted EBITDA breakeven for the full year 2024.

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About GoTo Group

GoTo is the largest digital ecosystem in Indonesia. GoTo's mission is to ‘empower progress' by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy. The GoTo ecosystem provides a wide range of services including mobility, food delivery, groceries and logistics, as well as payments, financial services, and technology solutions for merchants. The ecosystem also provides e-commerce services through Tokopedia and banking services through its partnership with Bank Jago.

Contacts:

Media

GoTo Group: corporate.affairs@gotocompany.com

Investors/analysts

GoTo Group: ir@gotocompany.com