VIII. COMPANY INFORMATION
2. Development of the Company’s Shareholding Structure
The Deed of Establishment No. 35 dated June 22, 1983, as amended by Deed of Amendment No. 20, dated August 23, 1984, were made before the presence of Drs. Gde Ngurah Rai, S.H., Notary in Jakarta. Both deeds were approved by the Ministry of Justice of the Republic of Indonesia in its Decision Letter No. C2-5415.HT.01.01.TH.84 dated September 27, 1984;
entered in the Court of First Instance Office, North Jakarta, under No. 13/Leg/1985 dated January 15, 1985; and announced in Supplement No. 4731 in the State Gazette of the Republic of Indonesia No. 94 dated November 23, 1990.
The Company’s share capital structure was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total %
(of shares) (Rp) (of shares) (Rp)
Charoen PokphandOverseas 1,600 1,100,000,000 400 275,000,000 80.00
Investment, Co., Ltd.
PT Sri Rejeki Nusantara 400 275,000,000 100 68,750,000 20.00
Total 2,000 1,375,000,000 500 343,750,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
Information:
In the Deed of Establishment, it stated that 25% (twenty five percent) or equivalent to Rp343,750,000 (three hundred forty three million seven hundred fifty thousand Rupiah) from the issued shares should be fully paid in cash, while the remaining shares should be fully paid in accordance with the working capital requirement of the Company.
YEAR 1985
In accordance with Notarial Deed No. 32 dated August 29, 1985, as witnessed by Drs. Gde Ngurah Rai, S.H., Notary in Jakarta, which was based on the minutes of the Shareholders’
General Meeting held on August 27, 1985, the shareholders agreed the sale of the 400 (four hundred) shares owned by PT Sri Rejeki Nusantara to PT Surya Hidup Satwa as supported by a Share Sale and Purchase Agreement dated August 28, 1985.
The structure of shareholders after the sale of the shares was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
Charoen Pokphand Overseas
Investment, Co., Ltd. 1,600 1,100,000,000 400 275,000,000 80.00
PT Surya Hidup Satwa 400 275,000,000 100 68,750,000 20.00
Total 2,000 1,375,000,000 500 343,750,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
YEAR 1986
In accordance with Notarial Deed No. 39 dated April 18, 1986, as witnessed by Drs. Gde Ngurah Rai, S.H., Notary in Jakarta, which was based on the minutes of the Shareholders’
General Meeting held on March 18, 1986, the shareholders agreed the sale of 800 (eight hundred) shares owned by Charoen Pokphand Overseas Investment, Co., Ltd. to PT Surya Hidup Satwa, as supported by a Share Sale and Purchase Agreement dated March 18, 1986, which was signed, duty stamp and approved by all parties.
The structure of shareholders after the sale of the shares was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total %
(of shares) (Rp) (of shares) (Rp)
Charoen Pokphand Overseas Investment, Co., Ltd. 800 550,000,000 400 275,000,000 40.00
PT Surya Hidup Satwa 1,200 825,000,000 600 412,500,000 60.00
Total 2,000 1,375,000,000 1,000 687,500,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
Information:
In accordance with Notarial Deed No. 39 dated April 18, 1986, as witnessed by Drs. Gde Ngurah Rai, S.H., Notary in Jakarta, it stated that 50% (fifty percent) or equivalent to Rp687,500,000 (six hundred eighty seven million five hundred thousand Rupiah) from the issued shares were fully paid by cash, while the remaining shares were fully paid at no more than 3 (three) years from the date of Extraordinary Shareholders’ General Meeting held on March 18, 1986.
In accordance with Notarial Deed No. 32 dated December 17, 1986, as witnessed by Drs.
Gde Ngurah Rai, S.H., Notary in Jakarta, which was based on the minutes of the Shareholders’
General Meeting held on October 10, 1986, the shareholders agreed the sale of 1,200 (one thousand two hundred) shares owned by PT Surya Hidup Satwa to PT Tunggal Eka Sakti, as supported by a Share Sale and Purchase Agreement dated October 10, 1986, signed, duty stamp and approved by all parties, and 300 (three hundred) shares owned by Charoen Pokphand Overseas Investment Co. Ltd. to PT Tunggal Eka Sakti, as supported by a Share Sale and Purchase Agreement dated October 10, 1986.
The structure of shareholders after the sale of share was as follow:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
Charoen Pokphand Overseas
Investment, Co., Ltd. 500 343,750,000 250 171.875.000 25.00
PT Tunggal Eka Sakti 1,500 1,031,250,000 750 515.625.000 75.00
Total 2,000 1,375,000,000 1,000 687.500.000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
YEAR 1988
In accordance with Notarial Deed No. 24 dated August 31, 1988, as witnessed by Esther Riawati Gunawan, S.H., Notary in Cirebon, which was based on the minutes of the shareholders meeting, the shareholders agreed the sale of 500 (five hundred) shares owned by Charoen Pokphand Overseas Investment Co. Ltd. to PT Charoen Pokphand Jaya Farm, as supported by a Share Sale and Purchase Agreement dated July 31, 1988.
The structure of shareholders after the sale of share was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Charoen Pokphand Jaya Farm 500 343,750,000 250 171,875,000 25.00
PT Tunggal Eka Sakti 1,500 1,031,250,000 750 515,625,000 75.00
Total 2,000 1,375,000,000 1,000 687,500,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
YEAR 1989
In accordance with Notarial Deed No. 98 dated October 18, 1989, as witnessed by Gde Kertayasa, S.H., Notary in Jakarta, which was based on the minutes of the Shareholders’
General Meeting held on June 30, 1989, the shareholders agreed the sale of 1,500 (one thousand five hundred) shares owned by PT Tunggal Eka Sakti to PT Surya Hidup Satwa, as supported by a Share Sale and Purchase Agreement, dated June 30, 1989.
The structure of shareholders after the sale of share was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Charoen Pokphand Jaya Farm 500 343,750,000 300 206,250,000 25.00
PT Surya Hidup Satwa 1,500 1,031,250,000 900 618,750,000 75.00
Total 2,000 1,375,000,000 1,200 825,000,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
Information:
In Notarial deed No. 98 dated October 18, 1989, as witnessed by Gde Kertayasa, S.H., Notary in Jakarta, it stated that 60% (sixty percent) or equivalent to Rp825,000,000 (eight hundred twenty five million Rupiah) from the issued shares were fully paid in cash.
The detail of the additional paid in capital was as follows:
(In million Rupiah) Cash Authorized Additional Paid Received Capital in Capital Par value - Rp687,500 (US$1,000) per share
Charoen Pokphand Overseas Investment Co. Ltd. - 400 shares 416 275 141
PT Sri Rejeki Nusantara - 100 shares 104 69 35
PT Surya Hidup Satwa - 700 shares 729 481 248
Total 1,249 825 424
YEAR 1991
In accordance with Notarial Deed No. 4 dated August 15, 1991, as witnessed by Esther Riawati Gunawan, S.H., Notary in Cirebon, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on June 27, 1991, the shareholders agreed the sale of 1,500 (one thousand five hundred) shares owned by PT Surya Hidup Satwa to PT Vista Grain Corporation as supported by a Share Sale and Purchase Agreement dated June 28, 1991.
The structure of shareholders after the sale of share was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Charoen Pokphand Jaya Farm 500 343,750,000 300 206,250,000 25.00 PT Vista Grain Corporation 1,500 1,031,250,000 900 618,750,000 75.00
Total 2,000 1,375,000,000 1,200 825,000,000 100.00
YEAR 1993
In accordance with Notarial Deed No. 28 dated December 14, 1993, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on December 2, 1993, the shareholders agreed the sale of 200 (two hundred) shares owned by PT Charoen Pokphand Jaya Farm to PT Prospek Pertiwi as supported by a Share Sale and Purchase Agreement dated December 2, 1993.
The structure of shareholders after the sale of shares was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Charoen Pokphand Jaya Farm 300 206,250,000 180 123,750,000 15.00
PT Prospek Pertiwi 200 137,500,000 120 82,500,000 10.00
PT Vista Grain Corporation 1,500 1,031,250,000 900 618,750,000 75.00
Total 2,000 1,375,000,000 1,200 825,000,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
YEAR 1994
In accordance with Notarial Deed No. 31 dated February 21, 1994, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on February 2, 1994, the shareholders agreed on the sale of:
a. 1,500 (one thousand five hundred) shares owned by PT Vista Grain Corporation to PT Surya Hidup Satwa, as supported by a Share Sale and Purchase Agreement dated February 3, 1994;
b. 200 (two hundred) shares owned by PT Prospek Pertiwi to PT Surya Hidup Satwa, as supported by a Share Sale and Purchase Agreement dated February 3, 1994;
c. 300 (three hundred) shares owned by PT Charoen Pokphand Jaya Farm to Mrs. Lioe, Lisda Lawrendra as supported by a Share Sale and Purchase Agreement dated February 3, 1994.
The structure of shareholders after the sales of shares was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Surya Hidup Satwa 1,700 1,168,750,000 1,020 701,250,000 85.00
Mrs. Lioe, Lisda Lawrendra 300 206,250,000 180 123,750,000 15.00
Total 2,000 1,375,000,000 1,200 825,000,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
In accordance with Notarial Deed No. 47 dated July 30, 1994, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on June 30, 1994, the shareholders agreed the sale of 300 (three hundred) owned by Mrs. Lioe, Lisda Lawrendra to PT Surya Hidup Satwa as supported by a Share Sale and Purchase Agreement dated June 30, 1994 and registered in specified book of Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede under No. 15/P/1994 dated June 30, 1994.
The structure of shareholders after the sales of shares was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 2,000 1,375,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Surya Hidup Satwa 2,000 1,375,000,000 1,200 825,000,000 100.00
Total 2,000 1,375,000,000 1,200 825,000,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
YEAR 1995
In accordance with Notarial Deed No. 19 dated April 26, 1995, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on April 23, 1995, the shareholders agreed the change in the Company’s authorized share capital from Rp1,375,000,000 (one billion three hundred seventy five million Rupiah) to Rp5,000,000,000 (five billion Rupiah), and the change in par value of share from Rp687,500 (six hundred eighty seven thousand five hundred Rupiah) per share to Rp1,000 (one thousand) per share, so that the Company’s capital structure was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Surya Hidup Satwa 1,375,000 1,375,000,000 825,000 825,000,000 100.00
Total 1,375,000 1,375,000,000 825,000 825,000,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares 3,625,000 3,625,000,000
Information:
In Notarial Deed No. 19 dated April 26, 1995, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, it stated that 60% (sixty percent) or equivalent to Rp825,000,000 (eight hundred twenty five million Rupiah) from the issued shares were fully paid in cash, while the remaining 40% (forty percent) of shares or equivalent to Rp550,000,000 (five hundred fifty million Rupiah) were fully paid in accordance with the Company’s working capital requirements and the payment should be paid at no more than 5 (five) years from the latest amendment of the Articles of Association as approved by an appropriate government agency.
YEAR 1996
In accordance with Notarial Deed No. 31 dated February 29, 1996, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on December 27, 1995, the shareholders agreed the change in the Company’s issued share capital from Rp1,375,000,000 (one billion three hundred seventy five million Rupiah) to Rp5,000,000,000 (five billion Rupiah), and the change in fully paid share capital from Rp825,000,000 (eight hundred twenty five million Rupiah) to Rp3,289,410,000 (three billion two hundred eighty nine thousand four hundred thousand ten hundred Rupiah), so that the Company’s capital structure was as follows:
Description Par Value - Rp687,500 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 5,000,000 5,000,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Surya Hidup Satwa 5,000,000 5,000,000,000 3,289,410 3,289,410,000 100.00
Total 5,000,000 5,000,000,000 3,289,410 3,289,410,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares 3,625,000 3,625,000,000
Information:
In Notarial Deed No. 31 dated February 29, 1996, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, it stated that Rp3,289,410,000 (three billion two hundred eighty nine million four hundred ten thousand Rupiah) from the issued shares were fully paid in cash, while the remaining shares amounting to Rp1,710,590,000
(one billion seven hundred ten million five hundred ninety thousand Rupiah) should be fully paid to the Company in cash at no more than 2 (two) years from the date of the Extraordinary Shareholders’ General Meeting was held.
YEAR 1998
In accordance with Notarial Deed No. 20 dated March 5, 1998, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on March 3, 1998, the shareholders agreed the sale of 1,000 (one thousand) shares owned by PT Surya Hidup Satwa to PT Tanindo Subur Prima as supported by a Share Sale and Purchase Agreement dated March 3, 1998.
The structure of shareholders after the sale of shares was as follows:
Description Par Value - Rp1,000 per share
Total Shares (of shares) Total Par Value (Rp)
Authorized Shares 5,000,000 5,000,000,000
Shareholders Issued Shares Fully Paid Shares
Total Shares Total Total Shares Total % (of shares) (Rp) (of shares) (Rp)
PT Surya Hidup Satwa 4,999,000 4,999,000,000 4,999,000 4,999,000,000 99.98
PT Tanindo Subur Prima 1,000 1,000,000 1,000 1,000,000 0.02
Total 5,000,000 5,000,000,000 5,000,000 5,000,000,000 100.00
Total Shares (shares) Total Par Value (Rp)
Portfolio Shares - -
Information:
In Notarial Deed No. 20 dated March 5, 1998, as witnessed by Rachmad Umar, S.H., Notary in Bekasi Regency area II in Pondok Gede, it stated that the 100% (one hundred percent) or equivalent to Rp5,000,000,000 (five billion Rupiah) issued shares were fully paid in cash by the shareholders.
YEAR 2000
In accordance with Notarial Deed No. 15 dated October 18, 2000, as witnessed by Rachmad Umar, S.H., Notary in Jakarta, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on October 12, 2000, the shareholders agreed the change in the Company’s authorized capital from Rp5,000,000,000 (five billion Rupiah) to Rp10,000,000,000 (ten billion Rupiah), and the change in the issued and fully paid share capital from Rp5,000,000,000 (five billion Rupiah) to Rp7,100,000,000 (seven billion one hundred million Rupiah) through capitalization of retained earnings up to 1999, as disposed in the Annual Shareholders’ General Meeting held on June 28, 2000, which was supported by and stamp on duty, under Notarial Deed No. 9 dated October 17, 2000 of Notary in Bekasi Regency area II in Pondok Gede, so that the Company’s capital structure was as follows:
Description Par Value - Rp1,000 per Share
Total Shares Total Par Value Percentage (shares) (Rp) of Ownership (%)
Authorized Shares 10,000,000 10,000,000,000
Issued and Fully Paid Shares
PT Surya Hidup Satwa 7,098,580 7,098,580,000 99.98
PT Tanindo Subur Prima 1,420 1,420,000 0.02
Total Issued and Fully Paid Shares 7,100,000 7,100,000,000 100.00
Portfolio Shares 2,900,000 2,900,000,000
YEAR 2001
In accordance with Notarial Deed No. 11 dated June 14, 2001, as witnessed by Rachmad Umar, S.H., Notary in Jakarta; which was reported to the Ministry of Justice of the Republic of Indonesia based on Notary Announcement Letters No. 05/07/Not/PT/2001 dated July 3, 2001 and was received by the same notary on August 21, 2001, the Company approved the sell of:
a. 1,419 (one thousand four hundred nineteen) shares owned by PT Tanindo Subur Prima to PT Surya Hidup Satwa as supported by a Share Sale and Purchase Agreement dated May 17, 2001;
b. 1 (one) share owned by PT Tanindo Subur Prima to PT Centralwindu Sejati as supported by a Share Sale and Purchase Agreement dated May 17, 2001.
The structure of shareholders after the sale of shares was as follows:
Description Par Value - Rp1,000 per Share
Total Shares Total Par Value Percentage (shares) (Rp) of Ownership (%)
Authorized Shares 10,000,000 10,000,000,000
Issued and Fully Paid Shares
PT Surya Hidup Satwa 7,099,999 7,099,999,000 99.999985
PT Centralwindu Sejati 1 1,000 0.000015
Total Issued and Fully Paid Shares 7,100,000 7,100,000,000 100.000000
Portfolio Shares 2,900,000 2,900,000,000
YEAR 2006
In accordance with the Circular Shareholders’ General Meeting No. 21 dated September 11, 2006 as witnessed by Rachmad Umar, S.H., Notary in Jakarta, which was based on the minutes of the Extraordinary Shareholders’ General Meeting, the shareholders agreed the sale of 1 (one) share owned by PT Centralwindu Sejati to PT Central Pertiwi as supported by a Share Sale and Purchase Agreement dated August 1, 2006.
The structure of shareholders after the sale of shares was as follows:
Description Par Value - Rp1,000 per Share
Total Shares Total Par Value Percentage (shares) (Rp) of Ownership (%)
Authorized Shares 10,000,000 10,000,000,000
Issued and Fully Paid Shares
PT Surya Hidup Satwa 7,099,999 7,099,999,000 99.999985
PT Central Pertiwi 1 1,000 0.000015
Total Issued and Fully Paid Shares 7,100,000 7,100,000,000 100.000000
Portfolio Shares 2,900,000 2,900,000,000
Information :
In a Letter No. 13/01/NOT/KET/PT/2007 from Rachmad Umar, S.H. dated January 29, 2007 it was explained that the announcement and registration of the changes in the Company’s shareholders under Circular Shareholders’ General Meeting No. 21 dated September 11, 2006 of Rachmad Umar, S.H., Notary in Jakarta, cannot be executed considering several the changes of shareholders and the latest amendment based on the Notarial Deed No. 89, dated November 21, 2006 as witnessed by Dr. Fulgensius Jimmy Hardjo Lukito Tjhe, S.H., M.H., M.M. has been approved by the Ministry of Justice of the Republic of Indonesia.
In accordance with Notarial Deed No. 17 dated October 3, 2006, as witnessed by Dr. Fulgensius Jimmy Hardjo Lukito Tjhe, S.H., M.H., M.M., Notary in Jakarta, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on October 2, 2006, the shareholders agreed the changes in the Company’s authorized share capital from Rp10,000,000,000 (ten billion Rupiah) to Rp400,000,000,000 (four hundred billion Rupiah) and issued and fully paid shares capital from Rp7,100,000,000 (seven billion one hundred million Rupiah) to Rp132,000,000,000 (one hundred thirty two billion Rupiah), which came from:
a. issuance of shares amounted to Rp124,500,000,000 (one hundred twenty four billion five hundred million Rupiah);
b. capitalization of additional paid in capital through issuance of bonus shares to PT Surya Hidup Satwa amounted to Rp400,000,000 (four hundred million Rupiah).
The structure of shareholders after the above transactions was as follows:
Description Par Value - Rp1,000 per Share
Total Shares Total Par Value Percentage (shares) (Rp) of Ownership (%)
Authorized Shares 400,000,000 400,000,000,000
Issued and Fully Paid Shares
PT Surya Hidup Satwa 131,999,981 131,999,981,000 99.999985
PT Central Pertiwi 19 19,000 0.000015
Total Issued and Fully Paid Shares 132,000,000 132,000,000,000 100.000000
Portfolio Shares 268,000,000 268,000,000,000
Information:
The Company’s shareholders subscription payment were made in cash amounting to Rp124,500,000,000 (one hundred twenty four billion five hundred million Rupiah) based on the following supporting documents:
a. Payment of share subscriptions from PT Surya Hidup Satwa totaling to Rp124,499,982,000 (one hundred twenty four billion four hundred ninety nine million nine hundred eighty two thousand Rupiah) were made in several occasions, as follows:
i) Rp45,000,000,000 (forty five billion Rupiah) was based on a Fund Transfer Application No. 1428107 dated October 11, 2006 from Citibank, NA, Jakarta;
ii) Rp45,000,000,000 (forty five billion Rupiah) was based on a Fund Transfer Application No. 1428108 dated October 12, 2006 from Citibank, NA, Jakarta;
iii) Rp34,499,982,000 (thirty four billion four hundred ninety nine million nine hundred eighty two thousand Rupiah) was based on a Fund Transfer Application No. 1428109 dated October 13, 2006 from Citibank, NA, Jakarta.
b. Payment of share subscriptions from PT Central Pertiwi amounting to Rp18,000 (eighteen thousand Rupiah) was based on a Fund Transfer Application dated October 11, 2006 from Citibank, NA, Jakarta.
In accordance with Notarial Deed No. 89 dated November 21, 2006, as witnessed by Dr. Fulgensius Jimmy Hardjo Lukito Tjhe, S.H., M.H., M.M., Notary in Jakarta, which was based on the minutes of the Extraordinary Shareholders’ General Meeting held on November 20, 2006, in accordance agreed on the sale of 131,999,981(one hundred thirty one million nine hundred ninety nine thousand nine hundred eighty one) shares owned by PT Surya Hidup Satwa representing:
a. 52,799,981 (fifty two million seven hundred ninety nine thousand nine hundred eighty one) shares to PT Central Pertiwi, as supported by a Share Sale and Purchase Agreement dated November 15, 2006;
b. 27,720,000 (twenty seven million seven hundred twenty thousand) shares to Aspen Vista Holding Limited, as supported by a Share Sale and Purchase Agreement dated November 15, 2006;
c. 51,480,000 (fifty one million four hundred eighty thousand Rupiah) shares to Midsummer Corporation, as supported by a Share Sale and Purchase Agreement dated November 20, 2006.
The structure of shareholders after the sales of shares was as follows:
Description Par Value - Rp1,000 per Share
Total Shares Total Par Value Percentage (shares) (Rp) of Ownership (%)
Authorized Shares 400,000,000 400,000,000,000
Issued and Fully Paid Shares
PT Central Pertiwi 52,800,000 52,800,000,000 40.00
Midsummer Corporation 51,480,000 51,480,000,000 39.00
Aspen Vista Holding Limited 27,720,000 27,720,000,000 21.00
Total Issued and Fully Paid Shares 132,000,000 132,000,000,000 100.00