STRONG COMMITMENT OF SHAREHOLDERS REFLECTED IN AGREEMENT NOT TO DISTRIBUTE DIVIDENDS REACHED AT BTPN AGM
Jakarta, 29 April 2016 - The Annual General Meeting (AGM) of Shareholders of PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) gave its approval to the Company’s Financial Report of 31 December 2015. The AGM also agreed not to pay dividends from the 2015 financial year to shareholders.
“We are very grateful that our shareholders have agreed to use all of the Company’s net profit for the 2015 financial year of Rp 1.7 trillion as unappropriated retained earnings. Our shareholders also came to a consensus that for the financial year ending 31 December 2015, the Company would not distribute dividends,” said Jerry Ng, President Director of BTPN.
According to Jerry, the decision by shareholders not to take any dividends for the eighth straight year since 2008 reflects their strong long-term commitment to BTPN’s sustainable growth. As of 31 December 2015, BTPN's assets stood at Rp 81 trillion, an increase of 8% (year on year/yoy).
In addition to approving the Company’s Financial Report and agreeing on the use of the Company’s net profit for the financial year ending 31 December 2015, the BTPN AGM of Shareholders also declared the end of the tenure for members of the Company’s Board of Directors and Board of Commissioners for the period 2013 to 2016.
In light of this end of tenure, the AGM agreed on the appointment of a new composition for the Company's Board of Directors and Board of Commissioners. As such, the Board of Directors for the forthcoming period will consist of Jerry Ng (President Director), Ongki W. Dana (Vice-President Director) and Djemi Suhenda (Vice-President Director), as well as Anika Faisal, Kharim Indra Gupta Siregar, Arief Harris Tandjung and Wolf Arno Kluge as Directors.
Meanwhile, the Board of Commissioners will comprise Mari Elka Pangestu as President Commissioner (Independent), Irwan Mahjudin Habsjah and Arief Tarunakarya Surowidjojo as Commissioners (Independent), and Chow Ying Hoong and Hiroshi Higuma as Commissioners.
BTPN also used the occasion to hold an Extraordinary General Meeting (EGM) of Shareholders. The EGM reaffirmed the decision made at the Company’s EGM on 26 March 2015 to create and implement the Management and Employee Stock Option Program (2015 MESOP Program). The EGM also approved the establishment of an Employee Stock Option Program (ESOP Program).
The ESOP program will be carried out by adding or increasing the amount of the Company's issued capital and paid-up capital, by issuing new shares without offering a Rights Issue (Preemptive Rights) to shareholders, but rather by giving Company employees the option of purchasing these newly-issued shares.