Jakarta, June 8, 2023 – PT Impack Pratama Industri Tbk. (“the Company”) has successfully held the Annual General Meeting of Shareholders (“AGMS”) and the Extraordinary General Meeting of Shareholders (“EGMS”) for the fiscal year 2022, followed by the Annual Public Expose.
In the AGMS, the shareholders approved the entire Agenda and accepted the Company’s Annual Report. In addition, the shareholders approved the Company’s Net Income for the fiscal year ending on December 31, 2022, which amounted to IDR307,414,788,044.- to be distributed as cash dividends to all shareholders in the amount of IDR162,805,500,000,-. In this regard, each share will pay a cash dividend of IDR33. Cash dividends this year have increased by around 50% from the cash dividends distributed in 2021 of IDR22/share. The total dividends paid, which amounted to IDR162.8 billion is equal to the Dividend Payout Ratio (DPR) of 52.96% of the FY2022 Net Income.
Followed by the EGMS, the shareholders have agreed to distribute bonus shares from the share premium as of December 31, 2022, to shareholders, whereby each 1 old share owned by the shareholder will receive 10 new bonus shares. With this corporate action, the number of outstanding shares will increase from 4,933,500,000 shares to 54,268,500,000 shares. The share price adjustment will be exercised according to the calculation mechanism by the Indonesia Stock Exchange (IDX). Through this corporate action, we hope the issuance of bonus shares will strengthen the Company’s capital structure and increase the number of outstanding shares so that the Company’s traded shares will become more liquid.
During the Annual Public Expose, the Company’s Management emphasized the 2023 Revenues and Net Income targets of IDR3.3 trillion and IDR390 billion, respectively. To achieve these targets, Management devised several strategies, namely: continue to innovate through introducing new products targeting the middle to low segments to cater to the market outside Java Island, open to the possibilities of acquiring local or overseas companies that have products with a similar core to Impack, and lastly, implement digitalization as well as improving efficiency through Customer Relationship Management (CRM) app to revamp our sales team and help further spread our reach in our distribution networks. For the fiscal year 2023, the Company has budgeted capital expenditure of IDR280 billion which will be allocated for land and buildings, machinery, vehicles, as well as office equipment and factory equipment.
- Approved and ratified the Company’s Annual Report for the fiscal year 2022, including the Company’s Activity Report, the Board of Commissioners Supervisory Report, and the Company’s Consolidated Financial Statements for the fiscal year 2022, as well as providing full release and discharge (acquit et de charge) to the Board of Directors and Board of Commissioners of the Company for the management and supervisory actions carried out in the fiscal year 2022 as long as these actions are reflected in the Annual Report;
- Approved the Company’s Net Income for the fiscal year 2022 of IDR307,414,788,044.- to be appropriated as follows:
- A total of IDR 162,805,500,000.- will be appropriated for paying cash dividends to all registered shareholders in accordance with applicable regulations, whereby each share will receive a cash dividend of IDR33, taking into account the applicable tax regulations;
- The remainder will be appropriated for Retained Earnings, to increase the Company’s working capital and/or develop and expand the Company’s business.
- Approved the appointment of the Gani Sigiro & Handayani Public Accounting Firm, to audit the Company’s Consolidated Financial Statements for the fiscal year ending on December 31, 2023;
- Approved granting the authority to the controlling shareholder of the Company to determine the salary or honorarium and allowances for the members of the Board of Commissioners and the Board of Directors of the Company, taking into account the recommendations from the Nomination and Remuneration Committee.
- Approved and added up the authorized capital of the Company from IDR170,000,000,000.- (one hundred seventy billion Rupiah) to IDR2,170,000,000,000.- (two trillion one hundred and seventy billion Rupiah), and amended Article 4 paragraph 1 of the Company’s Articles of Association, as explained in the Meeting;
- Approved the capitalization of the share premium of a maximum of 49,335,000,000 (forty nine billion three hundred thirty five million) shares by distributing bonus shares with a nominal value of IDR493,350,000,000 (four hundred ninety three billion three hundred fifty million rupiah) to the shareholders of the Company, with a ratio of 1: 10 (one to ten), so that each 1 (one) old share owned by the shareholder will receive 10 (ten) new bonus shares;
- Approved the changes to Article 17 paragraph 5 of the Company’s Articles of Association, in order to comply with the Financial Services Authority Regulations (POJK) Number 14/POJK.04/2022 regarding the Submission of Periodic Financial Statements of Issuers or Public Companies, as explained in the Meeting;
- Approved to guarantee the Company’s assets, which amounted to more than 50% of the Company’s net assets in relation to obtaining funding for the Company and its subsidiaries, from banks and/or other financial institutions;
- Approved changes in the Board of Commissioners structure with the following details:
- Accepting the resignation of Mr. HANDOJO TJIPTODIHARDJO as President Commissioner of the Company, acknowledging his services and contribution to the Company during his term of office;
- Appointing Ms. LINDAWATI as the President Commissioner of the Company, starting from the end of this Meeting for the remaining term of office of other members of the Board of Commissioners, namely until the closing of the Company’s Annual General Meeting of Shareholders in 2024;
- Determine the structure of the members of the Board of Directors and Board of Commissioners of the Company as of the end of this Meeting until the end of the Company’s Annual General Meeting of Shareholders in 2024, with the following structure:
Board of Directors
President Director : Mr. Haryanto Tjiptodihardjo
Director : Mr. David Herman Liasdanu
Director : Mr. Janto Salim
Director : Ms. Lisan
Director : Mr. Sugiarto Romeli
Director : Mr. Wira Yuwana
Director : Mr. Phillip Tjipto
Board of Commisioners
President Commisioner: Ms. Lindawati
Independent Commissioner: Mr. Kelvin Choon Jhen Lee