Summary of Minutes of Annual General Meeting of Shareholders and Extraordinary

PT.Wicaksana O.I. Tbk

PT. WICAKSANA OVERSEAS INTERNATIONAL Tbk.

SUMMARY OF MINUTES OF
ANNUAL GENERAL MEETING OF SHAREHOLDERS (“AGM”)
AND
EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS (“EGM”)

The Board of Directors of PT. Wicaksana Overseas International Tbk (the “Company”) hereby announces that the Company has convened its AGM and EGM (both called “Meeting”) as follows:

A.
On
Day/Date   :  Wednesday, 10th June 2015

Time           :  10.25 – 11.05 hours for AGM and 11.25 – 11.30 hours for EGM

Venue         : Aston Marina Ancol Jakarta, Marina Mediterania, Tower A Pegangsaan 1 Room, M1 Floor, Jalan Lodan Raya No. 2A, Jakarta Utara

with the agenda as follows :

AGM
1.  The approval of the Board of Directors’ Annual Report, including the Board of Commissioners’ report and the ratification of the Company’s financial statement for the year ended 2014.
2.  The determination of Company’s net profit usage for the financial year 2014.
3.  The appointment of Public Accountant Firm for the financial year 2015 and grant the authorization to the Board of Directors to determine the honorarium and related requirements for such appointment.
4.  The determination of the honorarium, salaries and other remuneration for the members of the Board of Commissioners and the Board of Directors

EGM
1.  The approval of the Company’s Articles of Association’s amendment in connection with regulation of Financial Service Authority (“Otoritas Jasa Keuangan” or “OJK”).

B.
The members of the Board of Directors and the Board of Commissioners of the Company present at the Meeting :

Board of Directors :

1. Eddy Suwandi
2. Elys Karis

Board of Commissioners :
1. Djajadi Djaja
2. Hariady Hugeng
3. Samijadi Ruslie

C.
- The AGM was attended by shareholders representing 1.113.236.772 shares or equal to 87,72% of all shares issued by the Company, therefore, it fulfilled the quorum to make decisions, which is more than ½ of all shares issued by the Company for the first to forth items on the agenda of the AGM. Thus, the AGM was validly conducted and made valid resolutions

-  The EGM was attended by shareholders representing 1.113.236.972 shares or equal to          87,72% of all shares issued by the Company, therefore, it fulfilled the quorum to make decisions, which is more than 2/3 of all shares issued by the Company for the first agenda of the EGM, thus the EGM was validly conducted and made valid resolutions.

D.
In the Meeting, the Shareholders/their respective proxies were given the opportunity to ask questions and/or give their opinions regarding the agenda of the Meeting.

E.
There was no shareholder who asked questions and/or give an opinion for each agenda of the Meeting.

F.
The procedure for making resolutions in the Meeting is as follows :
The resolutions reached through deliberation to reach a consensus. In the event no consensus reached, hence it will be voting.

G.
All Shareholders and proxies agreed, hence the results of resolutions have made through deliberation of consensus.

H.
The Meeting has resolved as follows :.

- AGM

* First agenda
1. Accepted and approved the Board of Directors’ Annual Report on the activities of the Company for the financial year ended 31st December 2014, including the supervisory report from Board of Commissioners for the financial year ended 31st December 2014.
2. Accepted and approval the Financial Statements of the Company for the year ended 31st December 2014, audited by the Public Accountant Firm Purwantono, Suherman & Surja with its report No. RPC-6793/PSS/2015 dated 25th March 2015 with Unqualified Opinion.
3. Provide full release and discharge (acquit et decharge) to the members of the Board of Directors and the Board of Commissioners for the management and supervision they have done during the year 2014 as long as the actions are reflected in the financial statements.

* Second Agenda
Approved that no dividends be paid for the year 2014 as the Company still recorded accumulated losses and the net income in the year 2014 is used to decrease the accumulated losses of the Company.

* Third Agenda
Approved and authorized the Board of Commissioners and the Board of Directors in their capacities to :
1. Appoint the Independent Public Accountant Firm, that is registered at OJK and has good reputation, to audit the financial statements of the Company for the year ended 31 st December 2015.
2. Determine the fee and other requirements with respect to the appointment of the Public Accountant Firm.

* Forth Agenda
1. Approved the remuneration and benefit for the members of the Board of Commissioners to a maximum 10% (ten percent) higher compared to last year, effectively as of the closing of this Meeting until the ending of the AGM held in 2016.
2. Agreed to give authorization to the Board of Commissioners to determine the remuneration and benefit to the members of the Board of Directors.

-  EGM

* First Agenda
1. Approved the Company’s Articles of Association’s amendment in connection with the regulation of Otoritas Jasa Keuangan No.32/POJK.04/2014 on the planning and accomplishment of General Meeting of Shareholders by Public Companies and No.33/POJK.04/2014 on Board of Directors and Board of Commissioners of Public Companies.
2. Authorized the Board of Directors with substitution rights to declare this decision and amend the Articles of Association into Notarial Deed and notify the amendment of the Articles of Association to the Minister of Justice and Human Rights of the Republic of Indonesia by rearrangement of the Company’s Articles of Association.

Jakarta, 12th June 2015

The Board of Directors

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