ESSA Announces its First Ever Dividend
ESSA Remains Optimistic About Future Opportunities
Jakarta, June 7, 2022 – PT Surya Esa Perkasa Tbk (“ESSA”), a publicly listed company engaged in the Energy and Chemical sectors through its LPG (Liquefied Petroleum Gas) refinery and Ammonia plant, today approved distribution of dividend for the first time after its Initial Public Offering (IPO) in 2012. ESSA will distribute dividend of IDR5 per share amounting to IDR 78.3 billion. This decision was made at the Annual General Meeting of Shareholders held today.
Vinod Laroya, President Director of ESSA, said, “We are pleased that in 2022, for the first time we can distribute dividends to ESSA shareholders. Strong commodity prices supported solid cash generation and increased shareholder returns. Our operational track record is exceptional, and we continue to gain efficiencies. We are continuously evaluating new growth opportunities and are optimistic about ESSA’s future as a clean energy company with the development of CCUS (Carbon Capture, Utilization & Storage) technology to produce Blue Ammonia.”
For information at this year’s AGMS, in addition to distribution of dividends, ESSA has also approved a change in the management structure, namely the resignation of one of the Directors of ESSA, Ida Bagus Made (IBM) Putra Jandhana. ESSA looks forward to continuing its strong performance with the continuation of all other remaining directors.
Overview of ESSA
PT Surya Esa Perkasa Tbk (“ESSA”) is a publicly listed company engaged in the Energy and Chemical sectors through its LPG (Liquefied Petroleum Gas) refinery and Ammonia plant. Established in 2006, ESSA has been listed in the Indonesia Stock Exchange (IDX) since 2012. Through its subsidiary, PT Panca Amara Utama (“PAU”), ESSA became one of the biggest Ammonia producers in Indonesia and the first company globally to utilize the latest technology of KBR Reforming Exchanger System and Purifier Technology.
In line with the increasing concerns for global sustainability, Blue Ammonia has emerged as an alternative to low-carbon fuel. In March 2021, ESSA (through PAU) signed a Memorandum of Understanding (MoU) on Carbon Capture, Utilization and Storage (CCUS) for Blue Ammonia production in Indonesia in collaboration with Japan Oil, Gas and Metals National Corporation (“JOGMEC”), Mitsubishi Corporation (“MC”), and Institut Teknologi Bandung (“ITB”). Through the Blue Ammonia commitment, ESSA paves the way for Indonesia to be at the forefront of providing the fuel of the future.
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