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

PT.Wicaksana O.I. Tbk

PT. WICAKSANA OVERSEAS INTERNATIONAL Tbk.

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

The Board of Directors of PT. Wicaksana Overseas International Tbk (the “Company”) hereby announce that the Company has convened its AGM ( “Meeting”) as follows:
I. On
Day/Date : Wednesday, 15th June 2016
Time : 10.25 – 11.05 hours
Venue : Mercure Ancol Convention Center Teluk Jakarta Room, 1st Floor Taman Impian Jaya Ancol, Jakarta Utara with the agenda as follows :
1. The approval of the Board of Directors’ Annual Report, including the Board of Commissioners’ report on implementation of control’s duty and ratification of the Company’s financial statement for the financial year 2015.
2. The determination of appropriation of the Company’s net profit for the financial year 2015.
3. The appointment of Public Accountant Firm for the financial year 2016 and grant the authorization to the Board of Directors of the Company to determine the honorarium and other requirements for such appointment.
4. The change of the members of the Board of Commissioners of the Company.
5. The determination of the honorarium, salary and other remuneration for the members of the Board of Commissioners and the Board of Directors of the Company..

J. 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

K. – The meeting was attended by shareholders representing 1.114.321.552 shares or equal to 87.81% 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 fifth items on the agenda of the meeting, thus the meeting was validly conducted and made valid resolutions.

L. 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.

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

N. 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.

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

P. The Meeting has resolved as follows :
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 2015, including the supervisory report from the Board of Commissioners for the financial year ended 31st December 2015.
2. Accepted and approval the Financial Statements of the Company for the year ended 31st December 2015, audited by the Public Accountant Firm Purwantono, Sungkoro & Surja with its report No. RPC-596/PSS/2016 dated 24th March 2016 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 2015 as long as the actions are reflected in the financial statements.

Second Agenda
Approved that no dividends be paid for the year 2015 as the company still has negative balance of profit and the net income in the year 2015 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 the Financial Public Authority (“Otoritas Jasa Keuangan or OJK”) and has good reputation, to audit the financial statements of the Company for the year ended 31st December 2016.
2. Determine the fee and other requirements with respect to the appointment of the Independent Auditor.
Forth Agenda
3. Approved the resignation of Mr. Samijadi Ruslie from the position of Independent Commissioner of the Company effectively as of the closing date of this AGM and provide release and discharge (acquit et de charge) for the supervision he has done as long as the actions are reflected in the financial statement.
4. Approved the appointment of Mr. Haji Suhadi, Sarjana Hukum, as the Independent Commissioner of the Company effectively as of the closing of this meeting. Mr. Haji Suhadi, Sarjana Hukum, is to replace Mr. Samijadi Ruslie for the remaining period of services of the Board of Commissioners.
Therefore, the members of the Board of Commissioners / Independent Commissioner of the Company until the closing of AGM held in the year 2018 is as follows :
THE BOARD OF COMMISSIONERS
President Commissioner : Mr. DJAJADI DJAJA
Commissioner : Mr. HARIADY HUGENG
Independent Commissioner : Mr. Haji SUHADI, Sarjana Hukum
5. Provided the authorization and attorney to the Board of Directors of the company and/or.
together as well as personally to declare the Meeting Resolution in a separate Notarial Deed and report the change of the Company’s data to the Minister of Law and Human Rights of the Republic of Indonesia.
Fifth Agenda
1. Approved the remuneration and benefit for the members of The Board of Commissioners to a minimum 10% (ten percent) higher compared to last year, effectively as of the closing of this Meeting until the next AGM that will be held in year 2017;
2. Agreed to give authorization to the Board of Commissioners to determine the remuneration and benefit to the members of the Board of Directors.

Jakarta, 17th June 2016

The Board of Directors

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