In accordance with the prevailing laws and regulations in Indonesia, the decision regarding the distribution of dividends is based on the decision of the shareholders at the Annual GMS based on the recommendation of the Board of Directors. The Company can distribute dividends in the year in which the Company records a positive profit balance and after deducting reserves based on the Company Law.
The Shareholders of the Company which are the result of the implementation of the Initial Public Offering have the same and equal rights in all respects with the old shareholders, including but not limited to:
attend and cast votes in the GMS;
receive dividend payments and the remaining assets of liquidation
exercise other rights based on the Company Law;
and in accordance with the provisions of the Company's Articles of Association.
After the Public Offering, the Company's Management intends to pay cash dividends to the Company's shareholders in an amount of up to 20% (twenty percent) of the consolidated net income (after deducting the portion of net income attributable to non-controlling interests) of the Company for 2020 .
The amount of cash dividend distribution will be decided through the Annual GMS based on the recommendation of the Directors. The decision to pay cash dividends is made by taking into account the following matters:
The results of operations, cash flow, capital adequacy and financial condition of the Company in order to achieve optimal growth rates in the future;
Compliance with applicable laws and regulations and approval from the Annual General Meeting of Shareholders in accordance with the provisions of the Company's Articles of Association.
Until this registration statement is submitted to OJK, the Company has never distributed dividends.