Business · Markets · 2 hrs ago
PGUN says Mandiri could seize pledged shares if borrower defaults
Three shareholders of Indonesian company Pradiksi Gunatama, known as PGUN, pledged their shares to Bank Mandiri as security for a loan to Jhonlin Baratama.
The shareholders are Baramega Cipta Mulia Persada, Araya Agro Lestari and Citra Agro Raya.
PGUN says it was not involved in negotiating or approving the loan, and learned of the pledge after a binding agreement was signed on September 28, 2026.
The company says it did not guarantee the loan, pledge its own assets or receive any of the loan money.
Jhonlin Baratama is affiliated with PGUN because a shareholder in two of the companies that pledged shares is also a commissioner at Jhonlin Baratama.
If Jhonlin Baratama fails to meet its loan obligations, Bank Mandiri may seize the pledged shares under applicable rules.
PGUN says it will seek to protect the company’s control, operations and stock-market listing if a seizure takes place.
PT Pradiksi Gunatama (PGUN) said Bank Mandiri could enforce a pledge over shares in three PGUN subsidiaries if the borrower defaults.
The borrower is PT Jhonlin Baratama, which PGUN said is affiliated with the company.
PGUN said it did not take part in negotiating or approving the credit facility and was informed of the share pledge after the agreement was signed.
The pledge agreement was signed on 28 September 2026, PGUN said.
PGUN said it provided no corporate guarantee or other support and received no funds from the credit facility.
- Who
- PT Pradiksi Gunatama (PGUN), Bank Mandiri and borrower PT Jhonlin Baratama are involved. Shares in three PGUN subsidiaries were pledged.
- What
- PGUN said Bank Mandiri could enforce the share pledge if the borrower defaults.
- When
- The pledge agreement was signed on 28 September 2026. PGUN issued its statement on 12 October 2026.
- Where
- Not stated
- Why
- The shares were pledged in connection with a credit facility taken by PT Jhonlin Baratama. PGUN said it was not involved in arranging the facility.
This story does not have two clearly opposing sides.
Fluktuasi harga saham sepenuhnya merupakan mekanisme pasar yang dipengaruhi oleh persepsi investor dan aktivitas perdagangan di Bursa Efek Indonesia
Perseroan akan memastikan bahwa pelaksanaan eksekusi, apabila dilakukan, tetap memperhatikan stabilitas pengendalian Perseroan, kelangsungan kegiatan operasional, serta pemenuhan ketentuan pencatatan saham di Bursa Efek Indonesia sesuai dengan peraturan perundang-undangan yang berlaku
PGUN said the main shareholder had not made a formal decision and there was no legal certainty about signing the share-pledge deed.
The final legally binding agreement was reached and the credit and share-pledge documents were signed.
PGUN made its statement in response to a request from the Indonesia Stock Exchange.
- Borrower
- PT Jhonlin Baratama
- Lender
- Bank Mandiri
- Pledged shareholdings
- Baramega Cipta Mulia Persada, Araya Agro Lestari and Citra Agro Raya
- Agreement date
- 28 September 2026
- PGUN statement
- 12 October 2026
Sources
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