1. Guarantee of the Company's Assets which constitute more than 50% (Fifty Percent) of the Company's Net Assets
Brief explanation :
In order to comply with the provisions of Article 12 paragraph (9) of the Company's Articles of Association and Article 102 paragraph (1) of Law No. 40 of 2007 concerning Limited Liability Companies ("Company Law"), the Company requires approval from the General Meeting of Shareholders ("GMS") to execute asset guarantees exceeding 50% of the Company’s net assets, either through one or more transactions
In connection with the Company’s plan, the following applies:
a. The asset guarantee for the implementation of the Company’s liability restructuring to banking creditors constitutes a material transaction exempt from the obligation to use an Appraiser in accordance with Article 11 letter (c) of OJK Regulation No. 17/POJK.04/2020 concerning Material Transactions and Changes in Business Activities, and is an affiliated transaction exempt from the obligations to use an Appraiser and disclose information under Article 6 paragraph (1) letter (e) of OJK Regulation No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflicts of Interest;
b. The asset guarantee for the purpose of securing the Company’s obligations and obtaining funding from parties outside the banking sector will be carried out in compliance with the applicable laws and regulations, including OJK Regulation No. 17/POJK.04/2020 concerning Material Transactions and Changes in Business Activities and OJK Regulation No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflicts of Interest
2. Changes in the composition of the Company's management
Brief explanation :
In connection with the following :
a. The assignment of a member of the Board of Commissioners, Mr. Dwi Ary Purnomo, to PT Pertamina EP effective as of July 31, 2024, as stated in the Circular Shareholders’ Resolution of PT Pertamina EP; an
b. The resignation of a member of the Board of Commissioners, Mr. Darwin Wibowo, is effective as of October 24, 2024