General Meeting of Shareholders (GMS)
- Corporate
- Investor
- General Meeting of Shareholders (GMS)
General Meeting of Shareholders (GMS)
The General Meeting of Shareholders (GMS) is a Company organ that has authority that is not given to the Board of Commissioners or the Board of Directors within the limits specified in the laws and regulations and the Articles of Association. This authority includes requesting accountability from the Board of Commissioners and the Board of Directors regarding the management of the Company, amending the Articles of Association, appointing and dismissing the Board of Directors and/or the Board of Commissioners, deciding on the division of tasks and authority of management among the Board of Directors and others.
In accordance with its implementation, the GMS consists of the Annual General Meeting of Shareholders (AGMS) which is held at least once a year no later than 6 (six) months after the end of the Company’s financial year, and the Extraordinary General Meeting of Shareholders (EGMS) which can be held outside the GMS time.
To discuss certain important issues concerning the company that cannot wait for the holding of the GMS, an EGMS can be held with the provisions as stipulated in the Articles of Association. Conditions that require an EGMS to be held include the following:
- Replacement of the Board of Commissioners and the Board of Directors before their term of office ends, either due to resignation and/or other reasons.
- The existence of a material transaction plan and/or conflict of interest as stipulated in applicable laws and regulations;
- Other material corporate plans, such as the repurchase of the Company’s outstanding shares, stock split, and rights issue.
Stages of GMS Implementation
The general stages of holding a GMS are as follows:
- The GMS invitation is made through the Company’s website, the Indonesia Stock Exchange website, and the Indonesian Central Securities Depository website (eASY.KSEI) which is carried out no later than 21 (twenty one) days before the date of the GMS, excluding the date of the invitation and the date of the GMS.
- Before making the invitation, the Company is required to make an announcement that the GMS invitation will be carried out through the Company’s website, the Indonesia Stock Exchange website, and the Indonesian Central Securities Depository website (eASY.KSEI) which is carried out no later than 14 (fourteen) days before the GMS invitation.
- Related to PTBA’s status as a public company and in order to ensure uniformity of information regarding the plan or implementation of the GMS, in accordance with the provisions of OJK Regulation Number 15/POJK.04/2020 concerning the Plan and Implementation of the General Meeting of Shareholders of Public Companies, the Company is required to submit the agenda of the Meeting clearly and in detail to OJK no later than 5 (five) working days before the Announcement.
- Furthermore, after the implementation of the GMS, the Company is required to submit the results of the Meeting no later than 2 (two) working days after the meeting is held to OJK and announce it to the public through the Company’s website, the Indonesia Stock Exchange website, and the Indonesian Central Securities Depository website (eASY.KSEI).
- Each share issued has 1 (one) voting right unless the Articles of Association stipulates otherwise.
Implementation of 2024 GMS
Summary of Minutes of the 2024 Financial Year AGM
Invitation to the Annual General Meeting of Shareholders of PT Adiwarna Anugerah Abadi Tbk for the 2024 Financial Year
Announcement of the Annual General Meeting of Shareholders of PT Adiwarna Anugerah Abadi Tbk for the Financial Year 2024
