PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2011 and 2010 and For the Years then Ended
- 108 - The balance of this account as of December 31, 2011 and 2010, amounted to Rp 93,484 million
and Rp 93,485 million, respectively.
40. Cash Dividends
Based on the Extraordinary General Stockholders’ Meeting dated June 24, 2011, the shareholder approved the distribution of cash dividend for 2010 amounting to Rp 6,224 million or Rp 1 per
share. Based on the Extraordinary General Stockholders’ Meeting dated June 4, 2010, the shareholder
approved the distribution of cash dividend for 2009 amounting to Rp 6,182 million or Rp 1 per share.
41. General
Reserve
Based on the Extraordinary General Stockholders’ Meeting dated June 24, 2011, the Company provided general reserve based on the total issued and paid up capital amounting to Rp 264,101
million. Based on the Extraordinary General Stockholders’ Meeting dated June 4, 2010, the Company
provided general reserve based on the total issued and paid up capital amounting to Rp 263,230 million.
As of December 31, 2011 and 2010, the balance of general reserve amounted to Rp 527,331 million and Rp 263,230 million, respectively. This general reserve was provided in relation with
the Law of Republic of Indonesia No. 402007 dated August 16, 2007 regarding Limited Liability Company, which requires Companies to set up general reserve equivalent to at least 20 of the
total issued and paid up capital. There is no timeline over which this amount should be appropriated.
42. Warrants
Exercised up to Expired
Adjustment in December 31,
Exercised in Exercised in
unexcercised relation to Limited
Warrants 2009
2010 2011
warrants Total
Public Offering IV Series III
991,106,868 1,600,804
- 86,580
992,794,252 1,468,911
Series IV 383,764,094
41,933,667 8,745,391
- 434,443,152
- Total
1,374,870,962 43,534,471
8,745,391 86,580
1,427,237,404 1,468,911
In July 2005, the Company issued 991,325,341 Series III warrants detachable warrants, free of charge. These warrants can be exercised during the period from January 12, 2006 to
July 13, 2010. Every holder of a Series III warrant has a right to buy one Series B share at an exercise price of Rp 500 per share.
As of June 30, 2008, the price and total of Series II and Series III warrants have been adjusted in relation to Limited Public Offering IV. The new exercise price became Rp 430, and the new total
warrants became 10,516,070 warrants.
