PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 510 1. GENERAL continued
g. Subsidiaries and Associates continued PT Mandiri AXA General Insurance continued
In Bank Mandiri’s General Shareholder Meeting dated 23 May 2011, Bank Mandiri’s shareholders approved the Bank’s plans to acquire 120,000 one hundred and twenty thousand new shares
issued by PT Asuransi Dharma Bangsa. The Bank’s investment in PT Asuransi Dharma Bangsa was approved by Bank Indonesia through its letter No. 1359DPB1TPB1-1 dated 28 July 2011.
On 11 October 2011, Bank Mandiri acquired 120,000 one hundred and twenty thousand new shares issued by PT Asuransi Dharma Bangsa with a total value of Rp 60,000 as notarised by
Notarial deed of Yualita Widyadhari, S.H. No. 23 dated 11 October 2011. After this acquisition, Bank Mandiri became the controlling shareholder of PT Asuransi Dharma Bangsa with 60.00 of
ownership. This was ractified in the General Shareholder Meeting of PT Asuransi Dharma Bangsa in accordance with notarial deed of Yualita Widyadhari, SH No. 22 dated 11 October 2011. The
notarial deed had been submitted and received by the Ministry of Justice and Human Rights Republic of Indonesia as documented in its letter No. AHU-AH.01.10-10-33252 dated 17 October
2011 regarding Acceptance Notification on the Amendment of PT Asuransi Dharma Bangsa’s Article of Association.
Subsequently, the name of the Company, PT Asuransi Dharma Bangsa, was changed to PT Mandiri AXA General Insurance in accordance with the notarial deed of Yualita Widyadhari, S.H. No. 90
dated 18 October 2011. The notarial deed had been submitted and received by the Ministry of Justice and Human Rights of the Republic of Indonesia as documented in its letter No. AHU-
51976.AH.01.02 dated 25 October 2011 regarding Acceptance Notification on the amendment of PT Mandiri AXA General Insurance’s Article of Association.
In conducting its business, MAGI already obtained a license from the Insurance Bureau of Bapepam-LK Ministry of Finance of the Republic of Indonesia Biro Perasuransian Bapepam-LK
Kementerian Keuangan through letter No. S-12583BL2011 dated 22 November 2011 concerning the Activation of General Insurance Business License and Change of the Company Name from PT
Asuransi Dharma Bangsa to PT Mandiri AXA General Insurance.
h. Structure and Management
