Annual General Meeting of Shareholders Year 2012
On Jakarta, April 30th 2013 ANTAM held its Annual General Meeting of Shareholders (AGM) today at the Ritz Carlton Mega Kuningan Hotel, Jakarta. ANTAM's shareholders approved the Annual Report of the Board of Directors, including the Audited Financial Statements and the Oversight Report of the Board of Commissioners for the year ended December 31st, 2012. ANTAM's shareholders also approved the Annual Report of the Partnership and Community Development Program for the year ended December 31st, 2012. During the AGM, it was resolved to pay a cash dividend in the amount of Rp448,967,247,300.00 or 15% of ANTAM's income for the year attributable for owners of the parent of the year ended December 31st, 2012. The dividend is equivalent to Rp47.0884 per share.
In relation to the Company's dividend, on February 22, 2013, ANTAM published its unaudited 2012 financial statements with a net profit of Rp1,075,721,038,000.00. ANTAM's management decided to choose the fair value approach which allows for the 17.5% stake of PT Nusa Halmahera Minerals (PT NHM) to be revalued at Rp2,484,007,689,000.00, translating into the adjustment of the Company's income for the year attributable for owners of the parent of the year ended December 31st, 2012 to Rp2,993,114,982,000.00. If the approach was not taken, the Company's income for the year attributable for owners of the parent of the year ended December 31st, 2012 will be recorded at Rp1,130,109,215,000.00 (following audit correction). Following the adjustment, the Company's leveraging ability increased in line with higher equity. The management's decision is in line with the Company's strategy to conduct acquisition initiatives and the intention to become a global company as well as reflecting a more accurate picture of the Company's financial position.
ANTAM's shareholders agreed to the transfer the authority on the 2012 bonuses and the salaries, honorarium, benefits, facilities and other allowances of the Boards members for year 2013 to the Board of Commissioners after consultation with the A-series Dwiwarna shareholder. ANTAM's shareholders agreed with the recommendation to appoint the Public Accountant Firm Tanudiredja, Wibisana & Partner, member firm of PricewaterhouseCoopers International Limited, to audit ANTAM's financial statements for the fiscal year ended December 31st, 2013 and the financial statements of the Partnership and Community Development Program for the year ended December 31st, 2013. ANTAM's shareholders ratified the proposal to increase the pension benefits for ANTAM's pensioners as well as the proposed changes of ANTAM's Pension Fund.
ANTAM's shareholders ratified the appointment of Mr. Tato Miraza as ANTAM's President Director, replacing Mr. Alwinsyah Lubis who has served two terms. Under Indonesian Law No. 13/2003 on State Owned Enterprises, a person may only serve as a board member for a maximum of two five years terms. Mr. Tato Miraza previously served as ANTAM's Development Director. Menwhile, Mr. Hendra Santika, who is President Director of PT Indonesia Chemical Alumina, ANTAM's subsidiary, was appointed as Director. Shareholders also appointed Mr. Djaja Tambunan as Director. Mr. Djaja Tambunan was previously ANTAM's Finance Director. Shareholders also appointed Mr. Tedy Badrujaman as Director. Mr. Tedy Badrujaman was previously ANTAM's Corporate Secretary Division Head. Mr. Sutikno who was Finance and Administration Director of PT Nusantara Regas was also appointed as Director. Meanwhile, Geomin Unit Head, Mr. I Made Surata, was appointed as Director.
ANTAM's shareholders also ratified the honorable discharge of Mr. Burhan Muhammad and Mr. Bambang PS Brodjonegoro as Commissioners, and were replaced by Mr. Robert Pakpahan and Mr. Velix Vernando Wanggai. Mr. Robert Pakpahan is currently Director General of Debt Management at the Ministry of Finance. Mr. Velix Vernando Wanggai is currently Special Staff to the President in Regional Development.
ANTAM's Resolutions of the Annual General Meeting of Shareholders Year 2012 can be seen here.
The invitation to shareholders to attend Annual General Meeting of Shareholders Year 2012 can be seen here.
Minutes of Meeting of the Annual General Meeting of Shareholders Year 2012 can be seen here (in Bahasa Indonesia).