PT TIGA PILAR SEJAHTERA FOOD Tbk, domiciled in South Jakarta herewith notify that at Thursday 73rd December 2015 at 2 Mutiara 1 Room, J.W. Marriott Hotel Jl. DR. Ide Anak Agung Gde Agung Kav.E.1.1 no.1, Mega Kuningan South Jakarta, had been held Extraordinary General Meeting of Shareholders (“EGM”) of PT TIGA PILAR SEJAHTERA FOOD Tbk. ( “Company”). EGM started at 10.35 WIB and the EGM attended by the member of Board of Directors and Board of Commissioners of the company as follows:
A. Attending Member of Board of Directors and Board of Commissioners of the Company
| Board of Commissioners | Board of Directors |
| – President Commissioner: Mr ANTON APRIYANTONO / | – President Director : Mr BUDHI ISTANTO SUWITO |
| – Vice President Commisioners : Mr. KANG HONGKIE WIDJAJA | – Independent Director : Mr. JO TJONG SENG |
| – Commisioner : Mr HENGKY KOESTANTO | |
| – Commisioner : Mr. RIDHA DM WIRAKUSUMAH | |
| – Commisioner : Mr BONDAN HARYO WINARNO |
B. Attendance Quorum of the Shareholders
The EGM attended by 2,360,394,779 shares which represented by shareholders or their attorney with valid voting rights or as much as 73.34% from 3,218,600,000 shares which are the total shares issued and fully paid in the Company.
C. EGM Agenda
EGM Agenda is :
Allocations of the Retained Earnings for the financial year ended December 31, 2014 related to General Meeting of Shareholders of the Company which had previously held on June 16, 2015.
Explanation on the agenda of the Meeting is as follows :
2015 was a challenging year for the Board of Directors in maintaining the performance of the Company where the Company is working to improve the gross profit (Gross Margin) of all segments of existing products, seeks to expand its distribution network throughout Indonesia, carry out marketing activities to change the look of the product (packaging) , TVC activity and no less active in terms of sales are trying to penetrate deeper into the traditional market (General Trade) in order to ensure good growth and healthy for all product segments. The Company also provides sufficient capacity to accommodate the growth rate of sales of the machine, warehouse and production area. All was done in the midst of a global economic slowdown and local.
D. Questioning Opportunity
Before taking decision, Chief of the EGM provides enough opportunity for shareholders to ask questions and / or give an opinion on the EGM single agenda . But no shareholder or authorized attorneys ask questions on the single EGM agenda.
E. Decision Making Mechanism
The decision making mechanism was taken by deliberation and consensus, but if there are Shareholder or Shareholders Proxy not approving or voting blank, then the decision is taken by way of voting by raising hands, mentioning identity, number of shares represented and the chosen decision, in this case the leader of the EGM also provides sufficient time for shareholders to make a selection of the decision.
F. EGM Decisions
EGM Decision is as follows :
| EGM Agenda | |||
| Total of Shareholders asking question | – | ||
| Voting Result | Approve | Abstention | Don’t Approve |
| 2,360,394,779 shares or 100% of which comes with such approved unanimously | – | – | |
| EGM Decision | Approved to negate the dividends allocation from Retained Earnings for the fiscal year ended December 31st 2014 so that the use of the Company’s 2014 Net Profit, divided into two by Rp.16,000,000,000, – (sixteen billion Rupiah) as the Reserve Fund and the balance of Rp.315,811,786,659, – (three hundred and fifteen billion, eight hundred and eleven million, seven hundred and eighty six thousand six hundred and fifty-nine Rupiah) defined as retained earnings; Meeting hereby authorizes and empowered the Board of Directors to undertake all necessary actions in connection with the determination of the allocation of Retained Earnings for the financial year ended December 31st 2014 in relation with the decision of the Annual General Meeting of Shareholders of the Company which was held earlier on June 16th, 2015 to the authorities and relevant parties. | ||
The EGM adjourned at 10.45 WIB
Jakarta, 7th December 2015
PT TIGA PILAR SEJAHTERA FOOD Tbk.
Board of Directors