By P Web Design Company

Home Achievements 29 June 2006

29 June 2006

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Stockholders’ Extraordinary General Meeting

The Company has conducted the Stockholders’ Extraordinary General Meeting (“EGM”) which was held in Four Season Hotel, Jakarta. This EGM was attended by 94.53% of total Company’s stake and had approved by 74.59% through voting process, the following resolution has been passed :

  • Approved the Company’s plan to increase the Paid Up Capitalthrough the Right Issue according to the regulation No.IX.D.1. attachment of decree of Chairman of Indonesian Capital Market Supervisory Board No. Kep – 26/PM/2003 dated 17 July 2003 about The Right Issue the approval consists of :
    • Every 2 shares of the existing shareholders which was registered in the List of Shareholders dated 11 July 2006 at 14.00 wib have 6 rights to buy 6 New Shares at nominal value of Rp 125/share, is attached by 1 Warrant serial I for free. The exercise price for the right is Rp 125/share
    • To issue as much as possible with the maximum amount of 536,462,400 warrant serial I which will be due in 5 years and each warrant has the right to buy the new shares with the nominal value of Rp 125/share. The exercise price for the warrant is Rp 125/share
  • Approval the Usage Plan of Right Issue Funds, including approving the Investment of Plantation II which is considered as Material Transaction according to Capital Market Supervisory regulation No.IX.E.@
  • Approval to revise the Company’s Authorized Capital in relation to The Right Issue.
  • Gave the authority to the Board of Directors and Commissioners to execute all the approval, including but not limited to determine the amount of in Company’s Issued and Paid Up Capital after exercise of The Right Issue form the shareholders and after the exercise of the Warrant Serial I, to make all deeds, letters and needed documents, to present on the meeting with the authority, including public notary, to submit application letter to the authority in order to get an approval or to report to the authority and to register in the Company Registers in relevant to the current regulation.