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
12
1. GENERAL continued b. Company’s officers and employees continued
1. Officers continued Based on AGM of Stockholders dated June 29, 2007, the Company’s stockholders agreed to
replace Gatot Trihargo as the Company’s Commissioner to Mahmuddin Yasin. Based on Board of Commissioners’ Decision Letter dated February 15, 2008, the Board of
Commissioners agreed to appoint Ermady Dahlan as Director of Network and Solution and I Nyoman Gede Wiryanata as Director of Consumer effective from March 1, 2008.
Based on Letter No. S-584KF2008 dated June 20, 2008, Anggito Abimanyu resigned from his position as a member of Company’s Board of Commissioners effective from
August 20, 2008. Based on EGM of Stockholders dated September 19, 2008, the Company’s stockholders agreed to appoint Bobby A.A. Nazief as the a member of Company’s Board of
Commissioners for filling in the vacant position and to extend the term of service of the Company’s Board of Commissioners which should expire on March 10, 2009, to be extended
on the date of the AGM of Stockholders in 2009.
2. Employees As of September 30, 2007 and 2008, the Company and its subsidiaries had 32,448 and
34,426 employees, respectively.
c. Public offering of shares of the Company
The Company’s shares prior to its Initial Public Offering “IPO” totaled 8,400,000,000, consisting of 8,399,999,999 Series B shares and 1 Series A Dwiwarna share, and were 100-owned
by the Government. On November 14, 1995, 933,333,000 new Series B shares and 233,334,000 Series B shares owned by the Government were offered to public through IPO at the
Indonesia Stock Exchange “IDX” previously the Jakarta Stock Exchange and the Surabaya Stock Exchange and 700,000,000 Series B shares owned by the Government were offered to
the public and listed on the New York Stock Exchange “NYSE” and the London Stock Exchange “LSE”, in the form of American Depositary Shares “ADS”. There are 35,000,000 ADS and each
ADS represents 20 Series B shares at that time.
In December 1996, the Government had a block sale of its 388,000,000 Series B shares, and in 1997, had distributed 2,670,300 Series B shares as incentive to stockholders who did not sell
their shares within one year from the date of the IPO. In May 1999, the Government further sold 898,000,000 Series B shares.
To comply with Law No. 11995 of the Limited Liability Companies, at the AGM of Stockholders on April 16, 1999, the stockholders resolved to increase the Company’s issued share capital
through distribution of 746,666,640 bonus shares, to be taken from its additional paid-in capital, which were distributed to stockholders in August 1999.
On August 16, 2007, the Law No. 11995 of the Limited Liability Companies has been amended by the issuing of Law No. 402007 of the Limited Liability Companies which become effective at
the same date. The Law No. 402007 has no effect to the public offering of shares of the Company. The Company has complied with Law No. 402007.
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
13
1. GENERAL continued c. Public offering of shares of the Company continued
In December 2001, the Government had another block sale of 1,200,000,000 shares or 11.9 of the total outstanding Series B shares. In July 2002, the Government had sold 312,000,000 shares
or 3.1 of the total outstanding Series B shares. At the AGM of stockholders on July 30, 2004, as notarized by deed No. 26 of A. Partomuan
Pohan, S.H., LLM., the stockholders approved the Company’s 2-for-1 stock split for Series A Dwiwarna and Series B. For series A Dwiwarna share with par value of Rp.500, the split was into
1 Series A Dwiwarna share with par value of Rp.250 per share and 1 Series B share with par value of Rp.250 per share. The stock split resulted to an increase of the Company’s authorized
capital stock from 1 Series A Dwiwarna share and 39,999,999,999 Series B shares into 1 Series A Dwiwarna Share and 79,999,999,999 Series B shares, and the issued capital stock from
1 Series A Dwiwarna share and 10,079,999,639 Series B shares into 1 Series A Dwiwarna share and 20,159,999,279 Series B shares. After the stock split, each ADS represented
40 Series B shares. At the EGM on December 21, 2005, the stockholders approved the phase I plan to repurchase up
to a maximum of 5 of the Company’s issued Series B shares for a maximum repurchase amount of Rp.5,250,000 million which had expired on June 20, 2007. At the AGM on
June 29, 2007, the stockholders approved the phase II plan to repurchase up to 215,000,000 Series B shares for Rp.2,000,000 million which will be expired on
December 28, 2008. At the AGM on June 20, 2008, the phase II plan to repurchase the Series B shares has been discontinued on June 19, 2008 and the stockholders approved the phase III plan
to repurchase up to 339,443,313 Series B shares for Rp.3,000,000 million which will be expired on December 20, 2009. As of October 30, 2008, the Company had repurchased
490,574,500 shares equivalent to 2.43 of the issued and outstanding Series B shares, for a repurchase price of Rp.4,264,049 million, including broker and custodian fees Note 28.
As of September 30, 2008, all of the Company’s Series B shares were listed on the IDX
and 46,292,810 ADS shares were listed on the NYSE and LSE.
d. Subsidiaries
As of September 30, 2007 and 2008, the Company has consolidated the following direct or indirectly owned subsidiaries which it controls as a result of majority ownership Notes 2b and
2d:
i Direct subsidiaries: Percentage of
Nature of business effective
Total assets date of incorporation
Date of ownership interest
before elimination Subsidiaryplace of
or acquisition by commercial
incorporation the Company
operation 2007
2008 2007
2008
PT Pramindo Ikat Telecommunication
1995 100
100 1,241,376 1,212,661
Nusantara construction and
“Pramindo”, services
Medan, Indonesia August 15, 2002
PT Telekomunikasi Telecommunication
1995 100
100 686,734 1,367,521
Indonesia International July 31, 2003
“TII” formerly PT Aria
West International
“AWI”, Jakarta,
Indonesia
