PT. Tower Bersama Infrastructure Tbk Holds Annual General Meeting of Shareholders
JAKARTA, 27 May 2015 - PT Tower Bersama Infrastructure, Tbk ("TBIG") held its Annual General Meeting of Shareholders (AGMS) today at the Le Meridien Hotel in Jakarta. The AGMS was attended by the Company’s shareholders and achieved the required quorum.
The financial statements and Annual Report for the year ending December 31, 2014, were accepted, ratified as well as approved in the AGMS. The Board of Commissioners and Board of Directors were also granted the full release and discharged from their operational and supervisory duties conducted during the financial year ended December 31, 2014.
The AGMS approved the Board of Director’s proposal to allocate the Company’s net profit for Financial Year 2014 as follows: Rp10 billion allocated for general reserves, and the remaining amount allocated to Retained Earnings.The AGMS approved plans to repurchase a maximum of around 5% of the issued shares or 236,000,000 shares of the Company on the Indonesia Stock Exchange. As per OJK regulations, these shares can be bought back through the Stock Exchange and the approval is valid for 18 months. The maximum amount to be used for the shares repurchase is Rp2.2 trillion, including transaction, brokerage and other costs to be incurred.
The AGMS approved plans for the issuance of US Dollar denominated notes to be issued by a fully-owned subsidiary of the Company, through an offering to investors outside of the Republic of Indonesia, which constitutes as a material transaction in accordance with the Financial Services Authority’s Regulation (formerly Bapepam) No. IX.E.2 Attachment to the Chairman of Bapepam-LK’s Decree No. KEP-614/BL/2011 dated 28 November 2011 regarding Material Transactions and Changes to the Company’s Main Activity.
In addition, the AGMS authorized the Board of Directors to appoint a Public Accounting Firm to audit the Company’s Financial Statement for the Financial Year ending on 31 December 2015. The Board of Commissioners was also authorized to determine the salary and benefits for members of the Board of Directors as well as the honorarium accorded to the Board of Commissioners for the financial year 2015.
About PT. Tower Bersama Infrastructure Tbk:
PT Tower Bersama Infrastructure Tbk (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia. TBIG is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.
For more information contact:
Corporate Secretary:
Helmy Yusman Santoso – Tower Bersama Group
Phone: (62-21) 571 1946
Email: corporate.secretary@tower-bersama.com
Investor Relations:
Email: investor.relations@tower-bersama.com
