AKRA AGM Determined Dividend of Rp 110 /shares with Payout 61.6% for Financial Year 2019

JAKARTA, April 30, 2020 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ), held Annual General Meeting of Shareholders ("AGM") for the 2019 financial year today at Gallery West Meeting Room, Kebun Jeruk, Jakarta.  The shareholders approved the Board of Directors recommendation on dividend payout of Rp 441.6 billion from Net Profit of Rp. 717.2 billion for the year ended December 31, 2019.  The approved dividend of Rp110 / share is equal to payout of 61.6%. The remaining Net Profit of Rp. 275.4 billion is to be carried to retained earnings.

Amid the Covid-19 emergency situation, the Company followed the government's physical distancing policy and held the AGM as per the PSBB Norms.  This was based on the Letter of Chief Executive of Capital Market Supervisory body of the Financial Services Authority regarding Relaxation of Report Obligation and the Implementation of the General Meeting of Shareholders No. S-92 / D.04 / 2020, dated March 18, 2020.

The AGM was held at AKR Gallery West, Meeting Room P2 floor, Jakarta.  It was physically attended by Mr. Haryanto Adikoesoemo (President Director), Mr. I Nyoman Mastra (Commissioner), Mr Suresh Vembu (Director and Corporate Secretary) with other members of the Board of Commissioners and Board of Directors participating by Video Conferencing.     

The meeting approved the following five resolutions:

1. Approved the Directors 'Reports, Commissioners' Reports, Financial Statement, and the Company's Annual Report for the fiscal year ending December 31, 2019 and granted acquit et de charge to all the Members of BOC and BOD for their actions and oversight during the year ended 31st December 2019
2. Approved the Use of the Company's net profit for the year ending in December 31, 2019.
3. Appointment of an Purwantono, Sungkoro & Surja ( a member firm of Ernst & Young Global Limited) as Independent Public Accountant Firm that will audit the Company's books for the fiscal year ending on December 31, 2020.
4. Approved the changes in the composition of the Company's Management. ( as detailed below)
5. Determination of salary and other benefits of members of the Company's Directors as well as honorarium and other benefits of members of the Company's Board of Commissioners.

The Cash dividend of Rp 110 per share will be paid to shareholders after deducting the interim dividend paid; The Company had earlier announced interim dividend of Rp 60 / share that was paid on August 16, 2019.  The remaining cash dividend of Rp 50 / share will be paid on June 3, 2020.  Details of dividend payment schedule are as follows:

The AGM approved the resignation of Mr. Agus D.W. Martowardojo as the Company's Commissioner and appointed by Mr. Fauzi Ichsan as the Company's Independent Commissioner.   Further approvals were given for the following appointment:

Board of Commissioners for Term 2020 - 2025

Mr. Soegiarto Adikoesoemo as President Commissioner, 

Mr. I Nyoman Mastra as Commissioner

Mr Mohamad Fauzi Maulana Ichsan as Independent Commissioner

Board of Directors for Term 2020 -2025

Mr. Haryanto Adikoesoemo as President Director 

Mr. Jimmy Tandyo as Director 

Mr. Bambang Soetiono Soedijanto as Director

Ms. Mery Sofi as Director 

Mr. Suresh Vembu as Director

Ms. Nery Polim as Director

Ms. Termurti Tiban as Director

Suresh Vembu

Director & Corporate Secretary

PT AKR Corporindo Tbk