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Corporate governance

Board of Commissioners Meeting

Meetings of the Board of Commissioners

As specified in the Charter, the Board of Commissioners must meet at least once every two months. These meetings are scheduled in advance. Additional meetings may be held if requested by one or more members of the Board, by the Board of Directors, or by one or more of the shareholders jointly representing at least 10% of the total number of shares with valid voting rights.

A meeting of the Board is valid and may take binding decisions if more than one half of its members are present or represented in the meeting. Resolutions are adopted by consensus, but if a consensus cannot be reached, a resolution may be passed by the affirmative votes of more than one half of the total number of votes validly exercised in the meeting. The materials for the Board of Commissioners meeting have been distributed to members of the Board of Commissioners at least 5 (five) working days prior to the holding of the Board of Commissioners Meeting. Each member of the Board has equal voting rights and is entitled to cast one vote and up to one additional vote for another member whom he or she maybe representing.

Below is the schedule of The Board of Commisioners and Combined Meeting of The Board of Commisioners and The Board of Directors in 2020:

Meetings of the Board of Directors

The Board of Directors meets at least once every month, as specified by OJK Regulation No.33/POJK.04/2014 and the Board Charter. These meetings are scheduled in advance. Additional meetings may be convened at the request of one or more members of the Board, the Board of Commissioners or one or more of the shareholders who jointly represent at least 10% of the total number of shares with valid voting rights. Directors of the Company’s subsidiaries and other interested parties may be invited to the Board meetings.

A Board meeting is considered valid and may take binding decisions if more than half of the Board members are present or represented in the meeting. Resolutions should be adopted by consensus, but may be passed by the affirmative votes of more than half of the total number of votes validly exercised in the meeting, in the event that a consensus cannot be reached. Materials for the joint meeting of the Board of Commissioners and the Board of Directors have been distributed to members of the Board of Commissioners and Board of Directors at least 5 (five) working days prior to the holding of the Joint Meeting of the Board of Commissioners. Each Board member has equal voting rights and is entitled to cast one vote and up to one additional vote for another member he or she is representing.

The Board of Directors held the following meetings in 2019:

  • Meeting A: Combined meetings with the Board of Commissioners, at least once every three months.

  • Meeting B: Meetings of the Board of Directors, at least every two weeks where possible. Directors of the Company’s subsidiaries and other invitees may also attend these meetings.

 

Agenda of Board of Commissioners Meeting 2019
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Agenda of Board of Commissioners and Board of Directors Combined Meeting 2018 2019
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Agenda of Board of Commissioners Meeting 2018
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Agenda of Board of Commissioners and Board of Directors Combined Meeting 2018
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