Related Transaction” means the transactions to be entered into between the Company and Telkomsel to support the operational activities of the IndiHome Business Segment after the Spin-Off, including the provision of infrastructure, equipment, professional services and network support capacity, as well as the provision fixed Basic broadband and IT system services from the Company to Telkomsel based on the Wholesale Agreement, Fixed Broadband Central Transition Service Agreement and IT system transition service agreement. This spin-off plan and disclosure of information is made with reference to the Law on Companies and POJK 17/2020. This spin-off plan and disclosure of information is prepared and submitted to authorities, the public and employees of the Company in order to comply with the principle of disclosure of information.
As part of the Spin-off to be carried out by the Company, the Company and Telkomsel will carry out related transactions in the form of the provision of infrastructure, facilities, professional services and supporting network facilities and the provision of fixed broadband connections. services of the company's core and information system. The subject of the proposed transaction includes the spin-off of the IndiHome business segment from the company to Telkomsel, which will be followed by related transactions in the form of the provision of infrastructure, devices, professional services and supporting network facilities and the provision of fixed broadband core services and information system services by the company to Telkomsel. The company will transfer the IndiHome business segment to Telkomsel through a partial spin-off, and as compensation, Telkomsel will issue new shares to the company.
After the implementation of the entire spin-off transactions, the company's ownership in Telkomsel will be 69.9%. The Company announced the summary of the spin-off plan in one nationwide daily;. The value of IndiHome Business Segment that will be spun off by the Company to Telkomsel based on the Conditional Spin-Off Agreement is Rp fifty eight billion two hundred forty nine billion nine hundred twenty million five hundred seventy one thousand two hundred Indonesian Rupiah).
The Articles of Association of the Company as last amended by Act 22/2022 are the statutes of the Company ("Articles of Association of the Company").
COMPANY’S CAPITAL STRUCTURE AND SHAREHOLDER COMPOSITION
INFORMATION ABOUT TELKOMSEL GENERAL
Telkomsel is a limited liability company established under and based on the laws of the Republic of Indonesia, domiciled in South Jakarta, based on Deed of Foundation No. 181 dated 26 May 1995, drawn up before Poerbaningsih Adi Warsito, S.H., a Notary in Jakarta, which received approval from the Ministry of Law and Human Rights of the Republic of Indonesia pursuant to Decree No. 69, dated June 26, 2008, drawn up before Mala Mukti, S.H., L.L.M., a Notary Public in Jakarta, and received approval from MoLHR of Republic of Indonesia in accordance with Decree No.
14, dated January 30, 2023, drawn up before Bonardo Nasution, S.H., notary public in Jakarta, as approved by the MPHR based on MOLHR Decree No. of the Amendment to the Articles of Association of PT Telekomunikasi Selular (collectively referred to as the "Telkomsel Articles of Association"). Telkomsel is headquartered in South Jakarta and has its head office at Telkom Landmark Tower, Tower 1, Jalan Jend.
Based on Article 3 paragraph 1 of Telkomsel Statutes, the aim and objectives, as well as Telkomsel's business activities, are to engage in the provision of mobile/wireless telecommunication networks and services, internet protocol television services, resale of telecommunications services, specialized retailing of information and telecommunications equipment , other telecommunications activities, information services activities and programming activities, as well as services related to web portals, web hosting, services for organizing commercial transactions through electronic systems, advertising services related to mobile digital advertising, data processing activities, consulting in the field of telecommunications , and technology-based financial services (financial technology/fintech). Carrying out and performing business activities in the field of facilities and the implementation of mobile telecommunications services and wireless telecommunications activities throughout Indonesia or across countries using Global System for Mobile Communication ("GSM") technology and/or other technologies (including but not limited to any replacement technology for GSM technology and/or future wireless telecommunications technology) in accordance with applicable regulations. Planning, engineering, construction, supply, development and operation as well as maintenance of facilities in the form of mobile telecommunication networks including STBS-GSM networks and other supporting infrastructure/facilities required to support the implementation of related telecommunication services.
Provision, development and organization of services related to mobile telecommunications networks and services and their derivative services, including but not limited to the following: (i) multimedia. Providing capabilities to sellers in relation to electronic transaction programs (e-commerce platforms) that connect sellers and consumers and enable sellers to open and operate their online stores, operate and provide websites that act as Internet shopping malls where consumers can purchase goods (including digital content) or services sold by participating sellers and provide marketplace services;. Providing data processing and consulting services in the telecommunications sector, including, but not limited to, providing mobile consumer insights and mobile data analytics;;.
Providing technology-based financial services (fintech/fintech), including but not limited to mobile payment, mobile financing, mobile aggregator, payment gateway (no switching), e-wallet; and. Carrying out other business activities with the aim of optimizing the resources owned by Telkomsel, including the utilization of fixed assets and movable assets and the capabilities of Telkomsel's information system, among others, such as technical analysis and testing activities.
TELKOMSEL CAPITAL STRUCTURE AND SHAREHOLDER COMPOSITION
MANAGEMENT AND SUPERVISION
- REASONS, EXPLANATIONS, AND BENEFITS OF CONDUCTING THE PROPOSED TRANSACTION
- REASONS AND EXPLANATIONS OF CONDUCTING THE PROPOSED TRANSACTION Currently, Telkom's business activities continue to grow and expand, especially in the field of
- BENEFITS OF CONDUCTING THE PROPOSED TRANSACTION
- EXPLANATION, CONSIDERATION, AND REASONING BEHIND TRANSACTION WITH AFFILIATED PARTY
- NATURE OF AFFILIATED RELATIONSHIP
- EXPLANATION, CONSIDERATION, AND REASONING BEHIND AFFILIATED TRANSACTIONS COMPARED TO OTHER SIMILAR TRANSACTIONS NOT CONDUCTED
- SUMMARY OF FINANCIAL STATEMENTS
- COMPANY
- TELKOMSEL
- TRANSFER OF COMPANY’S ASSETS AND LIABILITIES RELATED TO INDIHOME BUSINESS SEGMENT TO TELKOMSEL
- INFORMATION ON INDIHOME BUSINESS SEGMENT
- IMPACT OF THE TRANSFER OF THE COMPANY’S ASSETS AND LIABILITIES RELATED TO THE SPIN-OFF OF INDIHOME BUSINESS SEGMENT ON THE COMPANY
- IMPACT OF THE TRANSFER OF THE COMPANY’S ASSETS AND LIABILITIES RELATED TO THE SPIN-OFF OF INDIHOME BUSINESS SEGMENT ON TELKOMSEL
- VALUATION OF THE FAIRNESS OF THE PROPOSED TRANSACTION BY AN INDEPENDENT PARTY
- VALUATION OF THE FAIR VALUE OF THE INDIHOME BUSINESS SEGMENT IN THE PROPOSED TRANSACTION
- VALUATION OF PT TELEKOMUNIKASI SELULAR'S SHARES
- ANALYSIS RESULT OF INDEPENDENT APPRAISER REGARDING THE FAIRNESS OF THE PROPOSED TRANSACTION
- PLANS FOR MANAGEMENT AND EMPLOYEES
- SETTLEMENT OF RIGHTS AND OBLIGATIONS TO CREDITORS
- NOTIFICATION TO CUSTOMERS
- SETTLEMENT OF THE MINORITY SHAREHOLDERS RIGHTS
- GENERAL MEETING OF INDEPENDENT SHAREHOLDERS
- RAPAT UMUM PEMEGANG SAHAM LUAR BIASA
- GENERAL MEETING OF SHAREHOLDERS (SPIN-OFF APPROVAL AGENDA)
- ESTIMATED SCHEDULE RELATED TO THE SPIN-OFF
- BOARD OF DIRECTORS AND BOARD OF COMMISSIONERS STATEMENT
- ADDITIONAL INFORMATION
THE EFFECT OF THE TRANSFER OF THE COMPANY'S ASSETS AND LIABILITIES RELATED TO THE SEPARATION OF THE INDIHOME BUSINESS SEGMENT TO THE COMPANY ON THE SEPARATION OF THE INDIHOME BUSINESS SEGMENT. THE EFFECT OF THE TRANSFER OF THE COMPANY'S ASSETS AND LIABILITIES RELATED TO THE SEPARATION OF THE BUSINESS SEGMENT OF INDIHOME TO TELKOMSEL ON THE SEPARATION OF THE BUSINESS SEGMENT OF INDIHOME TO TELKOMSEL. The certainty of the assets and liabilities of the IndiHome business segment, which will be transferred to Telkomsel, will be additionally regulated in the Deed of Demerger.
EVALUATION OF THE FAIR VALUE OF INDIHOME'S BUSINESS SEGMENT IN THE PROPOSED DEAL PROPOSED DEAL. STTD.PB-23/PM.2/2018 ("KJPP RSR") as an independent evaluator for the conduct of business and the valuation of shares and giving opinions on the fairness of the proposed transaction of the company. This valuation report is a non-disclosure opinion based on a review of the documents used in the valuation process, data and information obtained from the company's management and other reliable sources.
This valuation report has been prepared using financial projections prepared by the company's management, which reflect the fairness of the projections and their ability to be achieved (fiduciary duty). KJPP RSR has obtained information about the valuation object's legal status from the Company. Considering that the IndiHome Business Segment is a part of the company, the IndiHome Business Segment does not have separate audited financial statements.
Based on the analysis carried out, the IndiHome Business Segment has good business prospects, with turnover factors being one of the main drivers of the company's value. KJPP RSR as the independent appraiser to conduct business and stock valuation and provide an opinion on the reasonableness of the company's proposed transaction. The valuation report is open to the public, unless there is confidential information that could affect the company's and Telkomsel's operations.
KJPP RSR has received information about the legal status of the object of assessment from the Company. Therefore, KJPP RSR has used the book value of unvalued objects in the valuation of the shares of Telkomsel and its subsidiaries. KJPP RSR as an independent valuer to conduct the business and share the valuation and give an opinion on the fairness of the Company's Proposed Transaction.
The fairness report is prepared on the basis of financial projections prepared by the company's management, so that they reflect the fairness of the projections and their attainability (fiduciary duty). KJPP RSR obtained information from the company on the legal status of the Opinion on Fairness subject. With the implementation of the Transaction Plan, the company's net profit will increase in the period 2023-2027.
The announcement regarding the implementation of the Spin-Off was sent in writing to all employees of the Company on April 6, 2023.
