General Meeting of Shareholders 2018

The Annual General Meeting Shareholders (AGM/GMS) was held at 3rd Floor Panin Bank Plaza on 29 June 2018, attended by 80% of the shareholders.

The AGM decisions, among others are: Approved the Company’s Annual Report for the 2017 fiscal year and ratified the Annual Financial Statements for the 2017 fiscal year. Agreed to the use of profits in 2017; an amount of Rp 3,000,000,000.- (three billion Rupiah) is used as a reserve fund, and the remaining net income is used for investment purposes and recorded as retained earnings. Accepted the resignation of Mrs. Linda Juliana J.L. Delhaye as President Director and appointed Mr. Pankaj Oberoi as President Director of the Company. Determined the honorarium of members of the Company’s Board of Commissioners for 2018 fiscal year in the amount of Rp 700,000,000 (seven hundred million Rupiah). Authorized the Board of Commissioners to carry out the nomination and remuneration functions to determine the salary and benefits of members of the Company’s Board of Directors and, Agreed to delegate authority to the Board of Commissioners to appoint Public Accountants from Satrio Bing Eny Public Accountants & Partners who will audit the Company’s books for the financial year ending December 31, 2018.