Corporate Action
Material & Change of Main Business Activity Transaction
The Company did not conduct material transactions containing conflicts of interests.
Affiliated & Conflict of Interest Transaction
In 2016, the Company has conducted transactions with affiliated parties with immaterial amounts. The percentage of revenue from Affiliated Parties towards Total Revenue was 0.99%. The percentage of Cost of Revenue, Cost Reimbursement, and Other Costs from Affiliated Parties towards Total Cost of Revenue and Finance Expense was 8.67% The percentage of Assets from Affiliated Parties towards Total Assets was 0.06%. The percentage of Liabilities from Affiliated Parties towards Total Liabilities was 0.75%.
The Company did not conduct material transactions containing conflict of interests.
In 2015, the Company has conducted transactions with affiliated parties with immaterial amounts. The percentage of revenue from Affiliated Parties towards Total Revenue is 0.84%. The percentage of Cost of Revenue, Cost Reimbursement, and Other Costs from Affiliated Parties towards Total Cost of Revenue and Finance Expense is 1.76%. The percentage of Assets from Affiliated Parties towards Total Assets is nil.
The percentage of Liabilities from Affiliated Parties towards Total Liabilities is 0.80%.
In 2014, the Company has conducted transactions with affiliated parties with immaterial amounts. The percentage of revenue from Affiliated Parties towards Total Revenue is 0.67%. The percentage of Cost of Revenue, Cost Reimbursement, and Other Costs from Affiliated Parties towards Total Cost of Revenue and Finance Expense is 3,00%. The percentage of Assets from Affiliated Parties towards Total Assets is 0.12%.
The percentage of Liabilities from Affiliated Parties towards Total Liabilities is 0.47%.
Dividend Distribution
The Company’s policy to distribute cash dividends to the Shareholders is set at maximum amount of 20% of total net profits. All of the Company’s issued and paid-in shares, including shares offered in the Initial Public Offering, are granted fair and equal rights on dividend distribution. There will be no negative covenant that may hinder the Company to distribute dividends to the Shareholders with regard to third party restriction.
The Company’s dividend payment take into consideration the financial performance, cash flow, the state of the industry, and compliance to rules and regulations, and other factors considered relevant by the Board of Directors without prejudice to the GMS’ right of determining otherwise pursuant to the Company’s Articles of Association.
Due to the Company's declining performance, the Board of Directors resolved not to declare any dividend in 2016.
Based on Annual General Meeting of Shareholders ("AGMS") for the financial year 2014 as legalized by Notarial Deed No.7 of Tjhong Sendrawan, S.H. dated March 30, 2015, the shareholders approved cash dividend distribution amounting to IDR25,770,285,720 equivalent to US$2,071,565 for IDR40 per share. This had been distributed to the shareholders on April 30, 2015 taken from the Company's profit balance of the financial year 2014.
Based on Annual General Meeting of Shareholders ("AGMS") for the financial year 2013 legalized by Notarial Deed No.8 of Tjhong Sendrawan, S.H. dated April 16, 2014, the shareholders approved cash dividend distribution amounting to IDR18,039,200,004 equivalent to US$1,585,447 for 644,257,143 shares or equivalent to IDR28 per share which had been paid on June 6, 2014.
Based on Annual General Meeting of Shareholders ("AGMS") for the financial year 2013 as legalized by Notarial Deed No.8 of Tjhong Sendrawan, S.H. dated April 16, 2014, the shareholders approved cash dividend distribution amounting to IDR 18,039,200,004 equivalent to US$1,585,447 for 644,257,143 shares or equivalent to IDR28 per share which had been paid on June 6, 2014 and taken from the Company's profit balance from the financial year 2013..
Rights Issue
| Rights Issue | Download Link |
|---|---|
| Summary of Prospectus' Ads | Download PDF |
| Rights Issue Ads | Download Link |
|---|---|
| Summary of Prospectus' Ads - 23 January 2017 | Download PDF |
| Additional Information for Summarty of Prospectus Ads | Download PDF |
Disclosure on Capital Investment without Preemptive Rights
| Rights Issue Ads | Download Link |
|---|---|
| Capital Investment without Preemptive Rights - 8 October 2024 | Download PDF |
| Amendment on Information Disclosure - 12 November2024 | Download PDF |
Bond Issuance
On February 3, 2015, the Company has issued bonds totaling to SG$50 million. The bonds are listed in the Singapore Exchange Securities Trading Limited (“SGX-ST”) and received an AA- rating from Standard & Poor’s Ratings Services (“S&P”).
The proceeds from the bonds will be used by the Company for financing of vessels acquisitions, working capital and other capital expenditure.
| Media | Download Link |
|---|---|
| Investor Daily - January 28 2015 | Download PDF |
Stock Split
Based on Notarial Deed dated March 30, 2015, regarding the Extraordinary General Meeting of shareholders (EGMS) approval of to the Company to change of par value from IDR100 to IDR25 per share (stock split) (1:4).
Thus the number of outstanding shares was also changed from 639,257,142 shares to 2,577,028,572 shares.
| Media | Download Link |
|---|---|
| Investor Daily - May 12 2015 | Download PDF |
Buy Back Shares
Based on minutes of the Company’s EGMS held on 30 March 2015, the shareholders approved, among others, the repurchase of the Company’s shares of total issued shares or 130 million shares with a total purchase cost of approximately US$5 million within an 18-month period.
As of 18 September 2015, the Company has repurchased 15,865,900 shares with a total acquisition cost of IDR2.40 billion or equivalent to US$172,911. The buyback was recorded as Treasury shares account under shareholder’s equity.
| Media | Download Link |
|---|---|
| Investor Daily - March 26 2015 | Download PDF |
| Investor Daily - March 18 2015 | Download PDF |
| Investor Daily - March 3 2015 | Download PDF |
Table of Contents
