MINUTES SUMMARY OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS (Meeting)

PT.Wicaksana O.I. Tbk

PT. WICAKSANA OVERSEAS INTERNATIONAL Tbk.

MINUTES SUMMARY OF
EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS (“Meeting)

The Board of Directors of PT. Wicaksana Overseas International Tbk (the “Company”) hereby announce that the Company has convened its Meeting as follows :

A. On
Day/Date : Friday, October 20, 2017
Time : 10.30 – 11.25 hours
Venue : Discovery Hotel Convention Ancol
Discovery 2, 3rd Floor
Taman Impian Jaya Ancol, Jakarta Utara
with the agenda as follows :
1. Approval of affiliated transaction as referred to Bapepam & LK Regulation No. IX.E.1 in regards to the transfer of fixed assets of the Company in plot of lands and buildings, which represents more than 50% of the Company’s Equity, hence constituting a material transaction as intended in point 2 letter b of Bapepam-LK Regulation No. IX.E.2.
2. Approval of the Company’s Articles of Association’s amendment in connection with the regulation of Financial Services Authority (“Otoritas Jasa Keuangan or OJK”).
Explanation of meeting agendas are as follows :
Meeting Agenda No. 1 is conducted in order to obtain cash funds rapidly to increase the Company’s working capital, thus such act of asset release does not impose depreciation and maintenance expenses.
Meeting Agenda No. 2 relates to the amendment of the Company’s Articles of Association in comply with the Financial Services Authority (OJK) Regulation No. 10/POJK.04/2017 on amendment to the Regulation of Financial Services Authority Number 32/POJK.04/2014 on the the planning and accomplishment of General Meetings of Shareholders of Public Companies.
B. Members of the Board of Directors and the Board of Commissioners of the Company present at the meeting :
Board of Commissioners : 1. Hariady Hugeng, 2. Haji Suhadi, SH
Board of Directors : 1. Eddy Suwandi. 2. Elys Karis

C. The meeting was attended by shareholders representing 1.113.812.852 shares or equal to 87.77% of all shares issued by the Company, therefore, it fulfilled the quorum to make decisions, which is more than 3/4 of all shares issued by the Company for the first agenda of the meeting and 2/3 of all shares issued by the Company for the second agenda of the meeting, thus the meeting 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 1 (one) shareholder who asked questions and/or give an opinion for the first agenda of the Meeting, whereas no shareholder who asked questions and/or give an opinion for the second 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 :

First Agenda
1. Concure with the sale of :

a. Land area of 6,615 m2 and Building area of 3,725 m2 located at Jalan Simo Kalangan No. 64, Simomulyo Sub-district, Sukomanunggal District, Surabaya, East Java in accordance with HGB No. 1872 dated August 26, 2002 to PT. Wira Logitama Saksama with the price of Rp. 45.054.000.000, – (Forty Five Billion Fifty Four Million Rupiah);

b. Land area of 5.643 m2 and Building area of 1932 m2 located on Jalan Bintaro Raya No. 15, Kebayoran Lama Selatan Sub-district, Kebayoran Lama District, South Jakarta, DKI Jakarta in accordance with HGB No. 170 dated April 2, 1996 to PT. Wira Logitama Saksama with the price of Rp. 65.719.000.000, – (Sixty Five Billion Seven Hundred Nineteen Million Rupiah);

c. Vacant land of 1.973 m2 located on Jalan Bintaro Raya, Kebayoran Lama Selatan Sub-district, Kebayoran Lama District, South Jakarta, DKI Jakarta in accordance with HGB No. 428 and 429 dated April 30, 2004 to PT. Wira Logitama Saksama with the price of Rp. 16.269.000.000, – (Sixteen Billion Two Hundred Sixty Nine Million Rupiah);

d. Land area of 84 m2 and Building area of 190 m2 located at Jalan HOS Cokroaminoto No. 64 A, Melayu Sub-district, Siantar Utara District, Pematang Siantar, North Sumatra according to HGB No. 1107 dated July 25, 2014 to PT. Wira Logitama Saksama with the price of Rp. 1.098.000.000, – (One Billion Ninety Eight Million Rupiah);

e. Land area of 76 m2 and Building area of 190 m2 located at Jalan HOS Cokroaminoto No. 64 B, Melayu Sub-district, Siantar Utara District, Pematang Siantar, North Sumatera according to HGB No. 1108 dated July 25, 2014 to PT. Wira Logitama Saksama dengan with the price of Rp. 1.051.000.000,- (One Billion Fifty One Million Rupiah) ;

f. Land area of 76 m2 and Building area of 190 m2 located at Jalan HOS Cokroaminoto No. 64 C, Melayu Sub-district, Siantar Utara District, Pematang Siantar, North Sumatera according to HGB No. 1109 dated July 25, 2014 to PT. Wira Logitama Saksama with the price of Rp. 1.051.000.000,- (One Billion Fifty One Million Rupiah);

g. Land area of 76 m2 and Building area of 190 m2 located at Jalan HOS Cokroaminoto No. 64 D, Melayu Sub-district, Siantar Utara District, Pematang Siantar, North Sumatera according to HGB No. 1110 dated July 25, 2014 to PT. Wira Logitama Saksama with the price of Rp. 1.051.000.000,- (One Billion Fifty One Million Rupiah);

h. Land area of 76 m2 and Building area of 190 m2 located at Jalan HOS Cokroaminoto No. 64 H, Melayu Sub-district, Siantar Utara District, Pematang Siantar, North Sumatera according to HGB No. 1114 dated July 25, 2014 to PT. Wira Logitama Saksama with the price of Rp. 1.051.000.000,- (One Billion Fifty One Million Rupiah);

i. Land area of 76 m2 and Building area of 190 m2 located at Jalan HOS Cokroaminoto No. 64 I, Melayu Sub-dsitrict, Siantar District, Pematang Siantar, North Sumatera according to HGB No. 1115 dated July 25, 2014 to PT. Wira Logitama Saksama with the price of Rp. 1.051.000.000,- (One Billion Fifty One Million Rupiah) ;

j. Land area of 88 m2 and Building area of 190 m2 located at Jalan HOS Cokroaminoto No. 64 J, Melayu Sub-district, Siantar Utara District, Pematang Siantar, North Sumatera according to HGB No. 1116 dated July 25, 2014 to PT. Wira Logitama Saksama with the price of Rp. 1.098.000.000,- (One Billion Ninety Eight Million rupiah) ;

k. Land area of 21.250 m2 and Building area of 6.026 m2 located at Jalan Tanjung Morawa Km 9,5, Timbang Deli Sub-district, Medan Johor District, Medan, North Sumatera according to HGB No. 24 dated May 13, 1986 to PT. Jakarana Tama with the price of Rp. 89.116.000.000,- (Eighty Nine Billion One Hundred and Sixteen Million Rupiah) ;

which will be implemented no later than December 31, 2017 for which constitute as Material Transaction as referred to in Bapepam-LK Rule Number IX.E.2 with details as disclosed in the Information Disclosure and Additional Information issued by the Company on September 13, 2017 and October 18, 2017, distributed to the Meeting participants and embedded in the Minutes of the Meeting.

2. To approve to grant power and authority to the Board of Directors of the Company with the right of substitution to perform all necessary actions related to the matters as decided above including terms and conditions deemed by the Board of Directors, to negotiate, to make, to request to be made and to sign a deed / the necessary documents including any amendments where necessary and reporting to the competent authority with due regard to the prevailing laws and regulations.

Second Agenda
1. Approving amendment of the articles of association to conform with the Financial Services Authority (OJK) Regulation Number 10 / POJK.04 / 2017 on Amendment to the Financial Services Authority Regulation dated March 14, 2017 Number 32 / POJK.04 / 2014 on the Plan and the holding of the General Meeting of Shareholders for Public Company and amend the provisions on restrictions on the authority of Board of Directors.

2. Agree to authorize the Board of Directors of the Company and / or.
with the right of substitution to amend and rearrange the Company’s articles of association in a separate notarial deed and request approval and / or notify the amendment of the articles of association to the Minister of Law and Human Rights, file and sign all requests and other documents, choose place of domicile including to execute other actions that may be required in accordance with the applicable laws and regulations for the Company.

Jakarta, October 24, 2017
The Board of Directors

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