PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
34
17. SHARE CAPITAL continued
In the Shareholders’ Extraordinary General Meeting held on February 11, 2009, the minutes of which were notarized under Notarial Deed No. 6 on the same date of Fathiah Helmi, S.H. and in the
Resolution in Lieu of the Shareholders’ Extraordinary General Meeting dated February 24, 2009 as covered by Notarial Deed No. 20 dated February 26, 2009 of Fathiah Helmi, S.H., the shareholders
resolved, among others, the following:
- Amend all of the Company’s articles of association in relation to become a public company.
- Issue, at a maximum of 500,000,000 new shares, from its unissued shares to the public
through initial public offering. -
Increase the issued and fully paid share capital from Rp78,690,000,000 representing 786,900,000 shares which were fully subscribed by PT Delta Sarana Pradana on February 24,
2009, and accordingly, the Company’s issued and fully paid share capital to become Rp400,000,000,000 representing 4,000,000,000 shares.
The above amendments were approved by the Ministry of Laws and Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-08209.AH.01.02.TH 2009 dated March 19, 2009.
In accordance with the Subscription Mandatory Exchangable Bonds Agreement dated June 16, 2008 and with the agreement made between PT Delta Sarana Pradana, Kindarto Kohar shareholder,
Sugiono Wiyono Sugialam shareholder and Canopus Finance Limited “Canopus” dated February 28, 2009, the parties agreed the issuance of Mandatory Exchangable Bonds “MEB” by
PT Delta Sarana Pradana to Canopus, a non-affiliated party of the Company and Shareholders, including PT Delta Sarana Pradana. According to the MEB agreement, Canopus has option to convert
the MEB into the Company’s shares and to comply with other requirements agreed by Shareholders and Canopus. The MEB can also be converted into the Company’s shares owned by PT Delta Sarana
Pradana, representing 25 interest in the Company’s issued and fully paid share capital after the public offering. On December 1, 2009, Canopus converted its MEB into 1,112,500,000 shares of the
Company.
In accordance with the Resolution in the Lieu of the Company’s Shareholders as covered by Notarial Deed No. 27 dated April 22, 2009 of Fathiah Helmi, S.H., as approved by the Ministry of Laws and
Human Rights of the Republic of Indonesia in its Decision Letter No. AHU-AH.01.10-08860 dated June 29, 2009, the shareholders resolved, among others, the following:
- Authorize the board of commissioners to increase the Company’s issued and paid shares,
after the Initial Public Offering and list the shares on the Indonesia Stock Exchange and the Company’s Shareholder; accordingly, the Company’s issued and fully paid share capital to
become Rp445,000,000,000 representing 4,450,000,000 shares, through issuance of 450,000,000 shares in the public offering.
- Amend the composition of the Company’s boards of commissioners and directors, which was
effective from April 22, 2009 until the Shareholders’ General Meeting will be held in 2010, as follows:
Commissioners Directors
Kindarto Kohar - President Commissioner
Sugiono Wiyono Sugialam - President Director
Christine Barki - Independent Commissioner
Djohan Sutanto - Director
Suryatin Setiawan - Independent Commisisoner Djoko Harijanto
- Director Glenn T. Sugita
- Commissioner Evy Soenarjo
- Director Ellianah Wati Setiady
- Non-affiliated Director
In accordance with the Resolution in the Lieu of the Shareholders’ Annual General Meeting as covered by Notarial Deed No. 84 dated June 26, 2009 of Fathiah Helmi, S.H., the shareholders resolved the
distribution of cash dividends of Rp31,150,000,000 from the 2008 net income and appropriation for general reserves of Rp1,000,000,000 from the 2009 net income.
PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
35
18. BASIC EARNINGS PER SHARE
The basic earnings per share computation is as follows:
2009 2008
Net income 117,687,851,030
102,582,114,294 Weighted average number of outstanding shares
4,157,010,137 2,252,116,717
Basic earnings per share 28
46 19. NET REVENUE
This account represents the income earned from third parties with details as follows: 2009
2008
Owned by the Company: Sales of cellular phones
3,549,828,278,009 2,736,385,027,350 Sales of reload vouchers
1,316,024,728,744 1,948,774,347,482 Service
31,776,010,523 38,151,046,693
Sales of content 2,482,727
82,697,795,643 Sales of cellular phones outbound
- 520,453,278,248
Others 24,682,002,755
7,687,594,207 4,922,313,502,758 5,334,149,089,623
Owned by the Subsidiary: Sales of cellular phones
529,981,157,285 6,146,667,360
Total 5,452,294,660,043 5,340,295,756,983
Consignment - net: Content
6,478,378 -
Sales of cellular phones 6,275,455
17,113,620 Others
31,977,536 7,326,153
Total 44,731,369
24,439,773
Total net revenue 5,452,339,391,412 5,340,320,196,756
There were no sales to a customer with cumulative amount exceeded 10 of the consolidated net revenue for the years ended December 31, 2009 and 2008.
20. COST OF REVENUE The details of cost of revenue are as follows:
2009 2008
Inventories at beginning of year 468,101,489,921
143,471,217,070 Purchases - net
5,006,258,847,371 5,223,758,273,117 Inventories available for sale
5,474,360,337,292 5,367,229,490,187 Inventories at end of year
576,673,539,708 468,101,489,921
