PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2008 AND 2009,
AND SIX MONTHS PERIOD ENDED JUNE 30, 2008 AND 2009 Figures in tables are presented in millions of Rupiah, unless otherwise stated
70
28. TREASURY STOCK continued
Based on the resolution at the AGM of Stockholders of the Company on June 29, 2007, the stockholders authorized the discontinuance of the phase I plan to repurchase the Series B shares
and authorized the phase II plan to repurchase the Company’s issued and outstanding Series B shares. The proposal was to undertake a stock repurchase program with the following terms and
conditions: i maximum stock repurchase would be 215,000,000 of the Company’s issued Series B shares with total cost not to exceed Rp.2,000,000 million; and ii the period determined for
the acquisition would not be longer than 18 months June 29, 2007 to December 28, 2008. Based on the resolution at the AGM of Stockholders or the Company on June 20, 2008, the
stockholders authorized the discontinuance of the phase II plan to repurchase the Series B shares and authorized the phase III plan to repurchase the Company’s issued and outstanding Series B
shares. The proposal was to undertake a stock repurchase program with the following terms and conditions: i maximum stock repurchase would be 339,443,313 of the Company’s issued Series B
shares with total cost not to exceed Rp.3,000,000 million; and ii the period determined for the acquisition would not be longer than 18 months June 20, 2008 to December 20, 2009.
On October 13, 2008, based on BAPEPAM-LK Regulation No. XI.B.3 Attachment to the Decision of the Chairman of BAPEPAM-LK No. Kep-401BL2008 dated October 9, 2008 concerning the Stock
Repurchase of Stock Issued by the Public Company on Potential Crisis Market Condition, the Company has released a full disclosure statement to the public in relation to the Company’s plan to
conduct a stock repurchase program of the Company’s stock which has been issued and listed in IDX up to 20 of its paid up capital with total cost not to exceed Rp.3,000,000 million which will be
conduct gradually within the acquisition period that would not be longer than 3 months October 13, 2008 to January 12, 2009.
As of June 30, 2008 and 2009, the Company has repurchased 426,290,500 and 490,574,500 shares of the Company’s issued and outstanding Series B shares, respectively, representing 2.11 and
2.43 of the Company’s issued and outstanding Series B shares, for a total repurchase amount of Rp.3,798,701 million and Rp.4,264,162 million up to June 30, 2008 and 2009, respectively, including
broker’s commissions and custodian fees. The Company has planned to retain, sell or use the treasury stock for other purposes in accordance
with BAPEPAM-LK Regulation No. XI.B.2 and under Law No. 402007 on Limited Liability Companies.
The movement of shares held in treasury arising from the programs for repurchase of shares is as follows:
2008 2009
Number Number
of shares Rp.
of shares Rp.
Balance beginning 244,740,500
2,176,611 490,574,500 4,264,073
Number of shares acquiredaddition 181,550,000
1,622,090 -
89
Balance ending 426,290,500
3,798,701 490,574,500 4,264,162
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2008 AND 2009,
AND SIX MONTHS PERIOD ENDED JUNE 30, 2008 AND 2009 Figures in tables are presented in millions of Rupiah, unless otherwise stated
71
28. TREASURY STOCK continued
