GENERAL MEETING OF SHAREHOLDERS (GMS)

In accordance with the provisions in the Company’s Articles of Association and the prevailing regulations, the General Meeting of Shareholders (GMS) is the highest governing body in the Company, one which has the authority to determine matters that cannot be decided by the Board of Commissioners or the Board of Directors.

 

Among the authorities given exclusively to the GMS are the authority to appoint and dismiss the members of the Board of Commissioners and the Board of Directors, amend the Company’s Articles of Association, and decide on matters related to dividend distribution.


The GMS in the Company consists of the Annual GMS (AGMS), held at least once every year, and the Extraordinary GMS (EGMS), which can be held at any time as deemed necessary, according to the provisions in the Company’s Articles of Association.


The preparation and organization of the GMS is carried out in accordance with applicable OJK regulations, with the stages of announcement, summons, submission of agendas, and implementation of GMS documented properly, to then be reported to OJK, BEI, and announced in media with nationwide circulation in Indonesia and on the Company’s website.


Decision-making at the GMS is carried out by prioritizing deliberation for consensus. If this method cannot produce a valid decision, then a vote will be conducted by counting the number of shares with valid voting rights that agree with the agenda being finalized.


In 2019, the Company held:
1. The Annual General Meeting of Shareholders (AGMS) on 21 May 2019 in Arjuna Room, Kresna Tower, which was attended by 535.556.410 shares with valid voting right or equivalent to 80,333% of all shares with valid voting right issued by the Company.
2. Extraordinary General Meeting of Shareholders (EGMS) on 21 May 2019 in Arjuna Room, Kresna Tower, which was attended by 541.567.920 shares with valid voting right or equivalent to 81,235% of all shares with valid voting right issued by the Company.

3. Extraordinary General Meeting of Shareholders (EGMS) on 17 December 2019, at Arjuna Room, Kresna Tower, attended by 501,245,300 shares with valid voting rights or equal to 75.187% of the total shares with valid voting rights issued by the Company. The Company conducted the abovementioned AGMS and EGMS in accordance with the provisions of the Law No. 40/2007 on Limited Liability Companies and OJK Regulation No. 32/POJK.04/2014 on Plan and Implementation of General Meeting of Shareholders of Public Companies.

*Source : PT NFC Indonesia Tbk. Annual Report 2019