PT Astra Otoparts Tbk (Astra Otoparts or the Company) today, Tuesday (9/6) holds an Annual General Meeting of Shareholders (Meeting or AGMS). During the meeting the following were decided:
1. First Agenda
a. Approve and accept both the Annual Report for the 2019 financial year, including ratifying the Supervisory Report of the Company's Board of Commissioners, as well as ratifying the Company's Consolidated Financial Statements for the 2019 financial year which have been audited by the Tanudiredja, Wibisana, Rintis & Partners Public Accountant Firm, as contained in their reports February 20, 2020 with a fair opinion in all material matters; and
b. With the approval of the Annual Report and the ratification of the Supervisory Report of the Board of Commissioners of the Company and the Company's Consolidated Financial Statements, all members of the Board of Directors and the Board of Commissioners of the Company are given full payment and release of responsibility (acquit et decharge) for the management and supervisory actions they have taken during financial year 2019, to the extent that these actions are reflected in the Company's Annual Report and Consolidated Financial Statements for the 2019 financial year.
2. Second Agenda
Approved the use of the Company's net income for the financial year ended December 31, 2019 amounting to Rp.739,672,318,814, - as follows:
a. (i) in the amount of Rp. 294,003,713,000, - or approximately 40% of the net profit distributed as cash dividends, or in the amount of Rp. 61, - for each share, which will be calculated with an interim dividend of Rp. 91,574,927,000, - or Rp. 19, - for each share that has been paid on 23 October 2019, so that the remaining amount is Rp. 202,428,786,000, - or in the amount of Rp. 42, - each share will be paid on 9 July 2020 to the Company's Shareholders whose names are registered in the Register of Shareholders of the Company on 19 June 2020 at 16:00 WIB;
(ii) Granting the authority and power with substitution rights to the Board of Directors of the Company to carry out the distribution of the dividends and to take all necessary actions. Dividend payment will be made with due observance of tax provisions, Indonesian Stock Exchange regulations and other applicable capital market regulations;
b. The Company does not determine special reserves considering that the minimum amount of special reserves required in Article 70 of the Company Law has been met; and
c. The remainder is recorded as the Company's Retained Earnings to be used as working capital and investment.
3. Third Agenda
a. To authorize the Board of Commissioners of the Company to determine the salaries and benefits of the members of the Board of Directors of the Company by taking into account the opinions of the Remuneration and Nomination Committee of the Company; and
b. To determine that for all members of the Board of Commissioners of the Company, the maximum honorarium of Rp. 3,161,712,400, - gross per year is paid 13 times a year, starting from the closing of this Meeting until the closing of the Annual General Meeting of Shareholders in 2021, and authorizes the President Commissioner to determine the distribution of the honorarium among the members of the Board of Commissioners of the Company by taking into account the opinions of the Remuneration and Nomination Committee of the Company.
4. Fourth Agenda
a. Appoint the Tanudiredja, Wibisana, Rintis & Rekan, Public Accountant Firm, a member of the PricewaterhouseCoopers network of firms, which is registered with the Financial Services Authority, to audit the Company's consolidated financial statements for the 2020 financial year; and
b. Authorized the Board of Directors of the Company to determine the amount of honorarium and other requirements in connection with the appointment of the Public Accounting Firm in accordance with applicable regulations.
President Director of PT Astra Otoparts Tbk Hamdhani Dzulkarnaen Salim thanked the stakeholders for their full support, so that Astra Otoparts can continue to work and improve performance from year to year and be able to record a net profit of 739.7 billion in 2019.
