PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
67
26. CAPITAL STOCK continued 2008
Number of Percentage Total
Description Shares
of Ownership Paid-up Capital
Series A Dwiwarna share Government
1 -
- Series B shares
Government 10,320,470,711
52.44 2,580,118
JPMCB US Resident Norbax Inc. 1,383,633,901
7.03 345,909
The Bank of New York 1,851,712,416
9.41 462,928
Directors Note 1b: Ermady Dahlan
17,604 -
4 Indra Utoyo
5,508 -
1 Public individually less than 5
6,123,996,139 31.12
1,530,999 Total
19,679,836,280 100.00
4,919,959 Treasury stock Note 28
480,163,000 -
120,041
Total 20,159,999,280
100.00 5,040,000
The Company only issued 1 Series A Dwiwarna Share which is held by the Government and cannot be transferred to any party, and has a veto in the General Meeting of the Stockholders with respect to
election and removal of the Board of Commissioners and Directors and to amend the Company’s Articles of Association.
Series B shares give the same and equal rights to all the Series B stockholders. 27. ADDITIONAL PAID-IN CAPITAL
2007 2008
Proceeds from sale of 933,333,000 shares in excess of par value through IPO in 1995
1,446,666 1,446,666
Capitalization into 746,666,640 Series B shares in 1999 373,333
373,333
Total 1,073,333
1,073,333 28. TREASURY STOCK
Based on the resolution on the EGM of Stockholders on December 21, 2005, the stockholders authorized the phase I plan to repurchase the Company’s issued and outstanding Series B shares.
The proposals for a stock repurchase program are under the following terms and conditions: i maximum stock repurchase would be 5 of the Company’s issued Series B shares with total cost
not to exceed Rp.5,250,000 million; and ii the period determined for the acquisition would not be longer than 18 months December 21, 2005 to June 20, 2007.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
68
28. TREASURY STOCK continued
Based on the resolution on the AGM of Stockholders on June 29, 2007, the stockholders authorized to discontinue 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 proposals to undertake a stock repurchase programs, under 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 on the AGM of Stockholders on June 20, 2008, the stockholders authorized to discontinue 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 proposals to undertake a stock repurchase programs, under 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.
As of September 30, 2007 and 2008, the Company has repurchased 222,340,500 and 480,163,000 shares, respectively, of the Company’s issued and outstanding Series B shares,
representing 1.10 and 2.38, respectively, for a total repurchased amount of Rp.1,945,901 million in 2007 and Rp.4,202,255 million in 2008 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
Note 52a.
The movement of shares held in treasury arising from the programs for repurchase of shares is as follows:
2007 2008
Number Number
of shares Rp.
of shares Rp.
Balance beginning 118,376,500
952,211 244,740,500 2,176,611 Number of shares acquired
103,964,000 993,690 235,422,500 2,025,644
Balance ending 222,340,500 1,945,901 480,163,000 4,202,255
Historical unit cost of repurchase of treasury shares:
Rp. 2007
2008
Weighted average 8,752
8,751 Minimum
6,633 6,628
Maximum 10,978
11,200 The acquisition cost per share has included all the cost for the shares repurchase programs
i.e. broker’s commissions and custodian fees. Up to the consolidated balance sheet date, none of the shares acquired were sold.
