PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5102 32. SHARE CAPITAL continued
b. Additional Paid-In CapitalAgio continued
Based on the results of a due diligence review conducted on behalf of the Government dated 31 December 1999 and Management Contract IMPA dated 8 April 2000, it was decided that there
was an excess on recapitalisation amounting to Rp4,069,000. The Bank has returned Rp2,657,000 of Government Recapitalisation Bonds to the Government on 7 July 2000 pursuant to the
Management Contract. The remaining balance of Rp1,412,000 was returned to the Government on 25 April 2003 based on approval from the shareholders during its meeting on 29 October 2002 and
the Ministry of State-Owned Enterprises Decision Letter No. KEP-154M-MBU2002 dated 29 October 2002.
The return of the above excess recapitalisation amounting to Rp1,412,000 includes a portion of issued and fully paid-in capital of Rp251,000.
On 23 May 2003, the Ministry of Finance of the Republic of Indonesia issued Decree “KMK-RI” No. 227KMK.022003 dated 23 May 2003, which was amended by KMK No. 420KMK.022003
dated 30 September 2003, which provides further guidance on Government Regulations No. 52 year 1999 and No. 97 year 1999 regarding the additional Government participation in Bank
Mandiri’s capital.
The following are the matters decided under the KMK RI: a. The final Bank Mandiri recapitalisation amount is Rp173,801,315;
b. The recapitalisation fund of Rp5,000,000 is converted into 5,000,000 new shares issued by Bank Mandiri with a nominal value of Rp1,000,000 full amount per share;
c. The remaining recapitalisation fund amount of Rp168,801,315 is recorded as agio within the capital structure of Bank Mandiri.
Through quasi-reorganisation, the Bank’s accumulated losses as at 30 April 2003 amounting to Rp162,874,901 were eliminated against additional paid-in capitalagio.
c. Fixed Assets Revaluation Reserve
The revaluation increase in fixed assets amounting to Rp3,046,936 represents the revaluation increment of fixed assets of the Merged Banks based on an appraisal value as at 31 July 1999. This
was based on the Decision Letter of the Ministry of Finance No. 211KMK.032003 dated 14 May 2003, Letter of the Ministry of Finance No. S-206MK.012003 dated 21 May 2003 which have been
approved by the Directorate General of Taxation, through the Head of State and Regional Offices of Corporate Tax Services Decision Letter No. KEP-01 WPJ.07KP.01052003 dated 18 June 2003.
As explained in Note 2s, Bank has adopted the cost model as its accounting policy for measurement of fixed assets in accordance with SFAS No. 16 revised 2007, “Fixed Assets” and therefore
reclassified the balance of fixed assets revaluation reserve of Rp3,046,936 in the shareholders’ equity in the 2007 consolidated balance sheet to the consolidated retained earnings in 2008 Note 15a.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5103 32. SHARE CAPITAL continued
d. Distribution of Net Income
Based on the Annual General Shareholders’ Meeting held on 4 May 2009, 29 May 2008 and 28 May 2007, the shareholders approved the distribution of the 2008, 2007 and 2006 net income as
follows:
2008 2007
2006
Dividends 1,859,488
3,911,601 1,452,843
Tantiem -
- 4,778
Cooperative Development Fund Program 53,128
86,924 48,428
Community Development Fund Program 159,384
86,925 48,428
2,072,000 4,085,450
1,554,477 Appropriated Retained Earnings: General Reserve
26,564 21,731
36,321 Specific Reserve
- -
- Total Reserve
26,564 21,731
36,321 Retained Earnings
3,214,257 239,043
830,607 5,312,821
4,346,224 2,421,405
Dividend per share full amount 88.89584
187.11 70.02
In 2008 and 2007, tantiem was distributed to Directors and Commissioners of PT Bank Mandiri Persero Tbk. amounting to Rp61,318 and Rp46,070 which was charged against the reserve provided in year 2008 and 2007 in accordance with SFAS
24 revised 2004 ”Employees Benefits”. In accordance with the Annual General Shareholders’ Meeting held on 28 May 2007, tantiem which allocated from 2006 net income, was only distributed to Commissioner’s of PT Bank Mandiri Persero Tbk.
The dividends for the year 2008, 2007 and 2006 were paid to the Shareholders on 11 June 2009, 3 July 2008 and 29 June 2007, respectively. The allocation for Cooperative Development Fund
Program and the Community Development Fund Program from 2008, 2007 and 2006 net income were paid on 11 June 2009, 17 June 2008 and 20 June 2007, respectively.
The Bank’s Board of Directors’ meeting has decided to distribute an interim dividend for the financial year 2009 to all shareholders amounting Rp 19.26433 full amount per share, with the
total amount of Rp 403,975. The Directors’ resolution has been approved by the Board of Commissioners.
The Bank has reported the interim dividend distribution plan to Bapepam-LK in a letter No. CLC.CSCCMA.22592009 dated 11 November 2009, to the Indonesian Stock Exchange in a letter
No. CLC.CSCCMA.22572009 dated 11 November 2009 and to Kustodian Sentral Efek Indonesia KSEI in a letter No. CLC.CSCCMA.22582009 dated 11 November 2009, regarding Information
Disclosure of PT Bank Mandiri Persero Tbk. on the Interim Dividend Distribution Plan for the year 2009.
The interim dividend was distributed on 22 December 2009 as a deduction on retained earnings.
e. Difference in Transactions of Equity Changes in Subsidiaries
