RALAT IKLAN PEMBERITAHUAN RINGKASAN RISALAH RUPST

RALAT

IKLAN PEMBERITAHUAN

RINGKASAN RISALAH RUPST

Dengan ini diberitahukan kepada seluruh pemegang saham Perseroan, ralat terhadap iklan pemberitahuan  Ringkasan Risalah Rapat Umum Pemegang Saham Tahunan yang terbit pada tanggal 27 Mei 2019 di harian Bisnis Indonesia.

Ralat Iklan hasil keputusan acara agenda ke- II (dua) Rapat Perseroan mengenai JADWAL PEMBAGIAN DIVIDEN TUNAI sebagai berikut:

SEMULA

Pembayaran Dividen Tunai akan dilaksanakan selambatnya pada tanggal 27 Juni 2019

MENJADI

Pembayaran Dividen Tunai akan dilaksanakan pada tanggal 26 Juni 2019

 

Jakarta, 28 Mei 2019

Direksi Perseroan

 

 

PSS UTILIZING ITS FINANCIAL CAPACITY TO SUPPORT FLEET EXPANSION PROGRAM

  • Obtain shareholders’ approval for all of the meeting agenda
  • Long-term loan facility of up to USD21 million to finance new fleet
  • Added 2 (two) units of Supramax class vessels to expand Mother Vessel (MV) business

 

JAKARTA, FEBRUARY 27, 2019

PT Pelita Samudera Shipping Tbk (“The Company”, “PSS”, IDX code: PSSI) has conducted Extraordinary General Meeting of Shareholders (EGMS) in which all agenda approved by shareholders.

First, the shareholders approved the Company’s plan to obtain long-term financing facilities from ICICI Bank Limited, Singapore Branch for a term-loan facility amounted up to USD21 million with tenor of maximum 5 years and 3 quarters as well as derivative facility amounted about USD1.5 million for hedging purpose.

PSS plans to use the term-loan facility to finance its fleet expansion, including the purchase of its second Supramax class mother vessel.

Second, the shareholders approved the change of the Company’s official domicile from previously West Jakarta to Central Jakarta in line with the increase in business activities and the growth of PSS. At the beginning of March 2019, the Company is officially moving to its new office at Menara Astra on Jl. Jend. Sudirman Kav. 5-6 from previously at Menara Citicon.

Third or final agenda, the shareholders also approved the Company’s plan to obtain Foreign Exchange facility amounted maximum USD5 million from Citibank N.A., Indonesia, which may be deployed for hedging purpose as PSS has part of its revenues, cost, and funding for capital expenditure in USD currency.

Utilizing financial capability

In 2018, PSS entirely financed its capital expenditure by internal funding as part of the Company’s long-term growth strategy to build solid financial capability for supporting its future expansion.

With currently healthy Balance Sheet and Cash Flow (Gearing Ratio of 0.38x, Current Ratio of 2.2x, Net Debt to EBITDA Ratio of 0.66x as of September 30, 2018), this year PSS will start to utilize its financial capacity for partially funding its fleet expansion in 2019.

Shareholders’ approval for obtaining long- term loan facility of up to USD21 million today is very important for PSS as the Company is looking at opportunities for expanding its MV business as well as refleeting its Tugboat and Barges (TNB) fleet.

Expansion in MV fleet

In February 2018, PSS started its MV business with 1 unit of Handysize class (above 30k dwt) vessel “MV Dewi Saraswati”, then followed by another 1 unit of Handysize class vessel “MV Dewi Ambarwati” on December 2018.

PSS opened the year 2019 with the purchase of its first Supramax class MV (above 50k dwt) with total transaction value of USD10.5 million, signing of Sales and Purchase Agreement (SPA) on January 22, 2019.

This MV’s acquisition transaction was completed at the second week of February, 2019. The new MV named “Daidan Pertiwi” will be chartered to transport coal or nickel ore for feedstock of a nickel smelter in Southeast Sulawesi.

Further, the Company added another Supramax class Mother Vessel for USD9.67 million, which will be partially funded with the planned loan from ICICI Bank Limited, Singapore Branch.

As such, PSS fleet will have total MV capacity of about 174.6k dwt by 1Q 2019 from only about 31k dwt by 1Q 2018 or a jump of more than 5x folded.

MV’s fleet expansion will be one of the key drivers for the Company’s revenue growth in 2019, as last year the Company’s MV contributed only about 5% of its Revenue.

ASSET OPTIMISATION, PSS REPORTED 9% REVENUE GROWTH IN Q1/2019

  • Mother Vessel fleet part of expansion to new market
  • Solid financial capacity will help PSS to accelerate growth

 

JAKARTA, APRIL 30, 2019

PT Pelita Samudera Shipping Tbk (“PSS”, “The Company”, IDX code: PSSI) today announced its unaudited financial result for Q1/2019.

Net Revenue for the first quarter of 2019 (Q1/2019) reached US$17.7 million, reflecting an increase of about 9% from US$16.2 million in the first quarter of 2018 (Q1/2018). The increase in Net Revenue in Q1/2019 was very satisfying in the midst of falling coal prices compared to the same quarter in 2018.

The Company started a new line of business on bulk carrier (Mother Vessels) at the end of Q1/2018. MV segment has contributed 250,000 metric tons out of overall volume of 7.8 million metric tons in QI/2019.

Total MV transport capacity in Q1/2019 was 174,600 DWT compared to 31,000 DWT in QI/ 2018, which carried not only coal but also nickel ore transportation. The Company has just completed the purchase of a handysize class bulk carrier MV, so up to now the Company owns 5 bulk carrier MVs, of which 3 new MVs just started operating in Q1/2019.

Customer rate for Tug and Barge and Floating Loading Facility (FLF) services has increased that contributed to higher revenue in Q1/2019 by 9%, however gross profit margin has decreased by 8%. The decrease was mainly contributed by the increase in fuel cost, crew wages and vessel depreciation which is in line with the additional fleet assets as part of the fleet expansion program.

Total non-current assets has increased by about 24% from 31 December 2018, mainly contributed by the purchase of 2 MV Supramax class vessels which just started operating in Q1/2019. Total liabilities also increased by about 33% compared to December 2018 due to withdrawal of short- term loans of US$5 million from Citibank Indonesia and other payables of US$8.75 million which were partly used to purchase 1 unit of the Supramax class MV.

Total Asset has increased by around 13% from US$110.11 million in December 2018 to US$124.96 million in Q1/2019.

Solid financial capacity to accelerate growth

Total comprehensive income has decreased by 15% in QI/2019 at US$2.2 million from US$2.6 million in QI /2018 contributed by the higher cost of revenue mentioned above. However, the Company’s capital structure has been well managed, as indicated by the increase of Gearing Ratio by 2% to 27% in Q1/2019 from 29% in Q1I/2018. The debt to total assets ratio and debt to total equity ratio were also better at 0.23 and 0.38 in QI/2019 which are lower than 0.29 and 0.48 in Q1/2018, respectively.

Financial capacity remains solid in which the expansion of MV fleet is funded by a combination of internal cash and bank funding. In addition to coal transportation volume from the tugboat and barge segments as well as FLF segment, the MV fleet segment is part of the large revenue contributor that will accelerate the Company’s growth in 2019 and onwards.

RINGKASAN RISALAH RUPST DAN RUPSLB PSS 24 Mei 2019

PT PELITA SAMUDERA SHIPPING Tbk

Berkedudukan di Jakarta

(“Perseroan”)

PEMBERITAHUAN

RINGKASAN RISALAH RAPAT UMUM PEMEGANG SAHAM TAHUNAN DAN RAPAT UMUM PEMEGANG SAHAM LUAR BIASA

 

Direksi Perseroan dengan ini mengumumkan bahwa Rapat Umum Pemegang Saham Tahunan (”RUPST”) dan Rapat Umum Pemegang Saham Luar Biasa (”RUPSLB”) PT PELITA SAMUDERA SHIPPING Tbk., berkedudukan di Jakarta Pusat (”Perseroan”), yang telah diselenggarakan pada hari Jumat, tanggal 24 Mei 2019, bertempat di Ruang Jasmine 2, Ayana Midplaza Hotel, Jalan Jend. Sudirman Kav.0-11, Jakarta – 10220.

RUPST dibuka pada pukul 10.31 WIB dan ditutup pada pukul 11.13 WIB.

A. Agenda RUPST adalah sebagai berikut :

  1. Persetujuan Laporan Tahunan Perseroan termasuk di dalamnya laporan kegiatan Perseroan, laporan pengawasan Dewan Komisaris serta pengesahan Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2018;
  2. Persetujuan Penggunaan Laba Perseroan untuk Tahun Buku yang berakhir pada tanggal 31 Desember 2018;
  3. Persetujuan Penunjukan Kantor Akuntan Publik utuk mengaudit laporan keuangan Perseroan untuk tahun buku 2019
  4. Perubahan susunan Dewan Komisaris Perseroan
  5. Penetapan Gaji dan Tunjangan serta Penghasilan Lainnya untuk anggota Direksi dan Dewan Komisaris Perseroan untuk tahun buku 2019.

B. RUPST dihadiri oleh anggota Dewan Komisaris dan Direksi sebagai berikut :

  1. Bapak Hamid Awaluddin                   Komisaris Utama Independen
  2. Bapak Iriawan Ibarat                          Direktur Utama
  3. Bapak Harry Tjhen                              Direktur
  4. Bapak Setya Rahadi                            Direktur
  5. Ibu Yolanda Watulo                            Direktur
  6. Ibu Helena Adnan                               Direktur Independen

C. Kuorum Kehadiran Para Pemegang Saham.

RUPST dihadiri oleh para pemegang saham dan/atau kuasanya sebanyak 4.853.955.210 saham yang merupakan 96,431 % dari 5.033.600.000 saham yang merupakan seluruh saham yang telah dikeluarkan atau ditempatkan oleh Perseroan, karenanya ketentuan mengenai kuorum Rapat sebagaimana diatur dalam Pasal 23 ayat 1 (a) Anggaran Dasar Perseroan dan Pasal 86 ayat 1 Undang-Undang Perseroan Terbatas, telah terpenuhi.

D. Kesempatan Tanya Jawab.

Kepada pemegang saham dan/atau kuasanya yang hadir dalam Rapat diberikan kesempatan untuk mengajukan pertanyaan, pendapat, usul dan/atau saran yang berhubungan dengan Agenda Rapat yang dibicarakan, dengan mekanisme mengangkat tangan dan menyerahkan formulir pertanyaan.

Tidak ada pemegang saham dan/atau kuasanya yang mengajukan pertanyaan dan/atau pendapat dalam Rapat.

E. Mekanisme Pengambilan Keputusan.

Mekanisme pengambilan keputusan dilakukan secara lisan dengan meminta kepada pemegang saham dan/atau kuasanya untuk mengangkat tangan bagi yang memberikan suara tidak setuju dan abstain, sedangkan yang memberikan suara setuju tidak diminta mengangkat tangan. Suara abstain dianggap mengeluarkan suara yang sama dengan suara mayoritas para pemegang saham yang mengeluarkan suara.

F. Keputusan RUPST.

Hasil pengambilan keputusan yang dilakukan melalui pemungutan suara, sebagai berikut :

Agenda I

Tidak ada yang memberikan suara tidak setuju maupun suara abstain (blanko), dengan demikian Rapat secara musyawarah untuk mufakat, menyetujui :

  1. Menerima baik dan menyetujui Laporan Tahunan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2018 termasuk Laporan Direksi dan Laporan Tugas Pengawasan Dewan Komisaris Perseoran selama tahun buku 2018.

 

  1. Menyetujui dan mengesahkan Laporan Keuangan Perseroan untuk tahun buku yang berakhir pada tanggal 31 Desember 2018 yang telah diaudit oleh KAP Tanudiredja, Wibisana, Rintis & Rekan sesuai dengan laporannya No. 00278/2.1025/AU.1/06/0243-2/1/III/2019 tertanggal 15 Maret 2019 dengan pendapat wajar tanpa modifikasian, serta memberikan pembebasan dan pelunasan tanggung jawab sepenuhnya (volledig acquit et decharge) kepada seluruh anggota Direksi dan Dewan Komisaris Perseroan atas tindakan pengurusan dan pengawasan yang telah dijalankan selama tahun buku yang berakhir pada tanggal 31 Desember 2018, sepanjang tindakan-tindakan mereka tersebut tercermin dalam Laporan Tahunan dan Laporan Keuangan Perseroan.

 

Agenda II

Tidak ada yang memberikan suara tidak setuju maupun suara abstain (blanko), dengan demikian Rapat secara musyawarah untuk mufakat, menyetujui :

A. Menyetujui penggunaan laba bersih untuk tahun buku 2018 sebesar USD 14 juta, sebagai berikut:

  1. Sebesar USD 708.772 (setara dengan Rp 10,1 milyar) atau 5% disisihkan untuk dana cadangan Perseroan sesuai dengan Pasal 70 ayat (1) Undang-Undang Perseroan Terbatas;
  2. Sebesar USD 4.238.821 (setara dengan Rp 60,4 milyar) atau 30% sebagai dividen tunai atau sebesar Rp12 (dua belas Rupiah) per saham, dimana untuk distribusi dividen interim sebesar Rp 5 (lima Rupiah) per saham telah dilaksanakan pada tanggal 30 November 2018 dan untuk sisa dividen final tunai sebesar Rp 7 (tujuh Rupiah) per saham;
  3. Sisa laba bersih tahun berjalan sebesar USD 9.065.423 atau 65% dicatat sebagai laba yang ditahan oleh Perseroan.

B. Menyetujui pembagian dividen tunai tahun buku 2018 dilaksanakan dengan ketentuan sebagai berikut:

  1. Pemegang saham yang berhak menerima dividen tunai tahun buku 2018 adalah pemegang saham yang namanya tercatat dalam Daftar Pemegang Saham Perseroan tanggal 13 Juni 2019.
  2. Pembayaran dividen tunai akan dilaksanakan selambatnya pada tanggal 27 Juni 2019.
  3. Direksi diberikan kuasa dan wewenang untuk menetapkan hal-hal yang berkaitan dengan pelaksanaan pembayaran dividen tersebut termasuk namun tidak terbatas antara lain mengatur tata cara pembagian dividen tunai serta mengumumkannya sesuai dengan peraturan yang berlaku.

Agenda III

Tidak ada yang memberikan suara tidak setuju maupun suara abstain (blanko), dengan demikian Rapat secara musyawarah untuk mufakat, menyetujui :

Memberikan kuasa kepada Direksi dan Dewan Komisaris Perseroan untuk melakukan segala sesuatu berkenaan dengan penunjukkan Kantor Akuntan Publik Tanudiredja, Wibisana, Rintis & Rekan dan/atau Kantor Akuntan Publik Pengganti dalam hal Kantor Akuntan Publik Tanudiredja, Wibisana, Rintis & Rekan karena sebab apapun tidak dapat menyelesaikan audit Laporan Keuangan Perseroan tahun buku 2019.

Agenda IV

Tidak ada yang memberikan suara tidak setuju maupun suara abstain (blanko), dengan demikian Rapat secara musyawarah untuk mufakat, menyetujui :

  1. Menyetujui mengangkat Ibu Lilis Halim sebagai Komisaris Independen Perseroan yang baru untuk menggantikan Bapak Adi Harsono yang statusnya dari Komisaris Independen menjadi Komisaris.

 

  1. Sehubungan dengan hal tersebut, maka susunan Dewan Komisaris dan Direksi Perseroan terhitung sejak ditutupnya Rapat ini sampai dengan penutupan Rapat Umum Pemegang Saham Tahunan Perseroan untuk tahun buku 2021 yang akan diselenggarakan pada tahun 2022 menjadi sebagai berikut :

DEWAN KOMISARIS

Komisaris Utama Independen            Bapak Hamid Awaluddin

Komisaris                                                Bapak Adi Harsono

Komisaris                                                Bapak Chavalit Tsao

Komisaris Independen                         Ibu Lilis Halim

DIREKSI

Direktur Utama                                     Bapak Iriawan Ibarat

Direktur                                                  Bapak Harry Tjhen

Direktur                                                  Ibu Yolanda Watulo

Direktur                                                  Bapak Setya Rahadi

Direktur Independen                           Ibu Helena Adnan

  1. Memberikan kuasa dan wewenang dengan hak substitusi kepada Direksi Perseroan untuk melakukan segala tindakan sehubungan dengan perubahan susunan Dewan Komisaris Perseroan tersebut.

Agenda V

Tidak ada yang memberikan suara tidak setuju maupun suara abstain (blanko), dengan demikian Rapat secara musyawarah untuk mufakat, menyetujui :

Memberikan wewenang kepada Dewan Komisaris Perseroan untuk menentukan honorarium, tunjangan dan fasilitas lainnya bagi anggota Dewan Komisaris Perseroan, serta gaji, tunjangan dan fasilitas lainnya bagi anggota Direksi Perseroan, dengan memperhatikan rekomendasi dari Komite Nominasi dan Remunerasi Perseroan.

 

 RUPSLB dibuka pada pukul 11.21 WIB dan ditutup pada pukul 11.32 WIB.

A. Agenda RUPSLB adalah sebagai berikut :

  1. Persetujuan atas Pinjaman Jangka Pendek dari Citibank Indonesia dengan jumlah sampai dengan 10 Juta Dollar Amerika Serikat dengan tenor sampai dengan 1 tahun yang akan digunakan untuk Pendanaan Jangka Pendek Perseroan.
  2. Persetujuan Perubahan Pasal 3 Anggaran Dasar Perseroan untuk disesuaikan dengan Klasifikasi Baku Lapangan Usaha Indonesia (KBLI) 2017.
  3. Persetujuan untuk pelaksanaan Management Stok Option Plan (MSOP) Kedua.

B. RUPSLB dihadiri oleh anggota Dewan Komisaris dan Direksi sebagai berikut :

  1. Bapak Hamid Awaluddin       Komisaris Utama Independen
  2. Ibu Lilis Halim                         Komisaris Independen
  3. Bapak Iriawan Ibarat              Direktur Utama
  4. Bapak Harry Tjhen                  Direktur
  5. Bapak Setya Rahadi                Direktur
  6. Ibu Yolanda Watulo                Direktur
  7. Ibu Helena Adnan                   Direktur Independen

C. Kuorum Kehadiran Para Pemegang Saham.

RUPSLB dihadiri oleh para pemegang saham dan/atau kuasanya sebanyak 4.854.570.620 saham yang merupakan 96,443 % dari 5.033.600.000 saham yang merupakan seluruh saham yang telah dikeluarkan atau ditempatkan oleh Perseroan, karenanya ketentuan mengenai kuorum Rapat sebagaimana diatur dalam Pasal 23 ayat 1 (a) dan Pasal 23 ayat 8 (a) Anggaran Dasar Perseroan serta Pasal 86 ayat 1 dan Pasal 88 ayat 1 Undang-Undang Perseroan Terbatas, telah terpenuhi.

D. Kesempatan Tanya Jawab.

Kepada pemegang saham dan/atau kuasanya yang hadir dalam Rapat diberikan kesempatan untuk mengajukan pertanyaan, pendapat, usul dan/atau saran yang berhubungan dengan Agenda Rapat yang dibicarakan, dengan mekanisme mengangkat tangan dan menyerahkan formulir pertanyaan.

Tidak ada pemegang saham dan/atau kuasanya yang mengajukan pertanyaan dan/atau pendapat dalam Rapat.

E. Mekanisme Pengambilan Keputusan.

Mekanisme pengambilan keputusan dilakukan secara lisan dengan meminta kepada pemegang saham dan/atau kuasanya untuk mengangkat tangan bagi yang memberikan suara tidak setuju dan abstain, sedangkan yang memberikan suara setuju tidak diminta mengangkat tangan. Suara abstain dianggap mengeluarkan suara yang sama dengan suara mayoritas para pemegang saham yang mengeluarkan suara.

F. Keputusan RUPSLB.

Hasil pengambilan keputusan yang dilakukan melalui pemungutan suara, sebagai berikut :

Agenda I

Tidak ada yang memberikan suara tidak setuju maupun suara abstain (blanko), dengan demikian Rapat secara musyawarah untuk mufakat, menyetujui :

Memberikan persetujuan, wewenang, dan kuasa kepada Direksi dan Dewan Komisaris untuk melakukan segala tindakan yang dibutuhkan sehubungan dengan proses perolehan tambahan Fasilitas Pinjaman Jangka Pendek sejumlah USD10 juta dari Citibank Indonesia dengan memperhatikan Anggaran Dasar Perseroan dan Peraturan Perundang-undangan yang berlaku.

Agenda II

Tidak ada yang memberikan suara tidak setuju maupun suara abstain (blanko), dengan demikian Rapat secara musyawarah untuk mufakat, menyetujui :

  1. Penyesuaian Pasal 3 Anggaran Dasar Perseroan untuk memenuhi ketentuan Peraturan Pemerintah Nomor 24 tahun 2018 tentang Pelayanan Perizinan Berusaha Terintegrasi Secara Elektronik (“PP 24/2018”) dalam rangka penyelarasan dengan Klasifikasi Baku Lapangan Usaha Indonesia (KBLI) 2017; dan

 

  1. Memberikan kuasa dan wewenang kepada Direksi Perseroan untuk melakukan segala tindakan yang diperlukan berkaitan dengan penyesuaian Pasal 3 Anggaran Dasar Perseroan tersebut, tanpa ada yang dikecualikan.

Agenda III

Tidak diambil keputusan dikarenakan hanya bersifat laporan.

Berita Acara RUPST dan RUPSLB tersebut dimuat dalam Notaris tertanggal 24 Mei 2019 berturut-turut dengan Nomor 20 dan Nomor 21 .

Pengumuman Ringkasan Risalah Rapat Perseroan ini untuk memenuhi ketentuan Pasal 34 ayat (1), ayat (2) dan ayat (6) Peraturan Otoritas Jasa Keuangan Nomor 32/POJK.04/2014 tentang Rencana dan Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan Terbuka.

Jakarta, 27 Mei 2019

Direksi Perseroan

PRESS RELEASE – COMPLETED INVESTMENT OF ADDITIONAL 1 UNIT OF MOTHER VESSEL, PSS SETS TO ACCELERATE LOGISTIC OPPORTUNITIES

  • New  fleet   investment   of   1   unit handysize class bulk carrier Mother Vessel above USD 8 million
  • Accelerate logistic opportunities for domestic power plant, metal and mineral industries

 

JAKARTA, MAY 23, 2019

PT Pelita Samudera Shipping Tbk (“The Company”, “PSS”, IDX code: PSSI) Following the positive performance in QI/2019 with a Net Revenue of USD17.7 million increased by around 9% from QI/2018, the Company just completed the purchase of bulk carrier Mother Vessel, “MV Dewi Regina Manggala.”

This handysize class bulk carrier adds to a total number of five Mother Vessel owned by the Company, part of its fleet expansion program in line with the increase in Indonesia’s logistics needs for the energy sector.

Total MV transport capacity to date is 205,552 DWT compared to 31,000 DWT from the same period last year. The fleet investment above USD8 million is funded by a combination of 30% internal cash and 70% bank funding.

The signing of time charter contract agreement has been completed for the bulk carrier with a capacity of 31,000 DWT with the planning to transport alumina on the first shipment from West Kalimantan area to North Sumatra.

The time charter agreement displays the Company’s continued commitment to serve larger customer base from coal to other energy sectors including minerals.

PRESS RELEASE – SOLID PERFORMANCE AND AMPLE LIQUIDITY, PSS TO DISTRIBUTE CASH DIVIDEND FOR SHAREHOLDERS

  • Obtain shareholders’ approval for all of the meeting agenda
  • Distribution of cash dividends of IDR 7 per share
  • Third dividend post IPO
  • Additional short-term loan facility of up to  USD10  million for  short  term funding

 

JAKARTA, MAY 27, 2019

PT Pelita Samudera Shipping Tbk (“The Company”, “PSS”, IDX code: PSSI) has conducted Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) in which all agenda approved by shareholders.

First, the shareholders approved 2018 Annual Report with the solid performance of the Company’s net profit has increased by 30% from 2017, the highest net profit for the past 5 years.

Shareholders have approved important decision on cash dividend from the use of 2018 net profit. Cash dividend will be paid to shareholders at IDR 7 per share on 27th June, 2019. This is the second dividend payment from 2018 net profit following interim dividend at IDR 5 per share distributed on 30th November 2018. Total dividend payment of IDR12 per share reflecting 30% of 2018 net profit or equal to USD4.2 million.

A total of USD 708.8k or 5% of net profit was set aside for the Company’s reserve funds and USD 9.1 million or 65% was recorded as Retained Earnings.

In total, this cash dividend marks the third dividend payment since the Company became public listed in December 2017.

The Company has re-appointed Independent Public Accountant firm, Tanudiredja, Wibisana, Rintis and Rekan (member of Pricewaterhouse Coopers global network) to audit 2019 financial report.

The change in the composition of the Board of Commissioners was approved with the appointment of a new Independent Commissioner, Mrs. Lilis Halim who will replace Mr. Adi Harsono whose status change from Independent Commissioner to become a Commissioner. Mrs. Lilis Halim currently serves as a Commissioner and Advisor at Tower Watson.

Determination of salaries and benefits as well as other facilities for members of the Board of Directors and Board of Commissioners as the last agenda also received shareholder’s approval.

Utilizing financial capability

PSS entirely financed its capital expenditure in 2018 by internal funding as part of the Company’s long-term growth strategy to build solid financial capability.

The Company’s solid capital structure reflecting in the Net Debt to Equity Ratio of 0.13 times as of December 2018 compared to 0.26 times in December 2017, in line with debt payments and accumulated profits.

Shareholders’ approval for obtaining short- term loan facility of up to USD10 million with a tenor maximum of 1 year for the Company’s short term funding. This loan is an additional collateral-free loan facility from Citibank which was previously approved for USD10 million, to a total of USD 20 million. The facility shows the bank’s tremendous trust in the Company’s promising business future.

The short term loan facility will be partly used for the funding of bulk carrier Mother Vessel (MV) fleet investment, part of the Company’s fleet expansion program.

The current MV fleet has a total capacity of almost 7 times fold compared to the same period of last year. MV’s fleet expansion will be one of the key drivers for the Company’s revenue growth in 2019.

THE CALLING AGMS and EGMS – 24 May 2019

THE CALLING

ANNUAL GENERAL MEETING OF SHAREHOLDERS &

EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

PT PELITA SAMUDERA SHIPPING Tbk

 

The Directors of PT Pelita Samudera Shipping Tbk (“Company”) hereby invite the Shareholders of the Company to attend the Annual General Meeting of Shareholders (“Annual Meeting”) and the Extraordinary General Meeting of Shareholders (“Extraordinary Meeting”) to be held on:

Day / Date             : Friday, May 24, 2019

Time                      : 10.00 WIB onwards

Venue                    : Jasmine 2 room, Ayana Midplaza Hotel

Jl. Jendral Sudirman Kav. 10-11

Jakarta 10220, Indonesia

With the Following Agenda:

Annual Meeting:

  1. Approval of the Company’s Annual Report including Company’s Activity Report, Board of Commissioner’ Supervision Report and Ratification of the Company’s Financial Statement for the financial year ended 31st December 2018.
  2. Approval on the Use of the Company’s Profit for the financial year ended 31 December 2018.
  3. Approval on the Appointment of Public Accountant to audit the Company’s financial statements for fiscal year 2019.
  4. Changes in Board of Commissioners’ composition
  5. Determination on Salaries and Allowances and other Income for members of The Directors and Board of Commissioner for the fiscal year 2019.

Extraordinary Meeting:

  1. Approval of Short Term Loans from Citibank Indonesia in the amount of up to 10 Million US Dollars with a tenor up to 1 year which will be used for the Company’s Short Term Funding.
  2. Amendment Agreement Article 3 of the Company’s Articles of Association to be adapted to the 2017 Standard Classification of Indonesian Business Fields (KBLI).
  3. Approval for the implementation of the Second Management Stock Option Plan (MSOP).

Note:

  1. Those that are entitled to attend or be represented at Annual Meeting and Extraordinary Meeting are:

a. For shares of the Company that have not been included in the Collective Depository. It is only Shareholders whose names are registered in the Register of Shareholders as of 30 April 2019 until 16.00 WIB;

b. For the Company’s shares in Collective Custody. It is only account holders whose names are registered as the Company’s Shareholders in securities accounts of custodian banks or securities companies registered in the Register of Shareholders as of 30 April 2019 at 16.00 WIB.

  1. For Securities account holders at the Indonesian Central Securities Depository (KSEI), are required to submit the List of Shareholders to KSEI in order to obtain a Written Confirmation for the Meeting (KTUR).
  2. Shareholders or their proxies who will attend the Annual Meeting and Extraordinary Meeting are asked to bring and submit a photocopy of the Share Collective Letter and a photocopy of the Identity Card (KTP) or other identification to the Company registration officer, before entering the meeting room. For shareholders in collective custody at KSEI, they are required to bring KTUR which can be obtained through exchange members or custodian banks.
  3. For the shareholders of the Company, the legal entity can be represented at the Meeting by the authorities in accordance with their respective statutes, and bring a photocopy of the articles of association and the latest amendments and the final composition of members of the Board of Directors and Board of Commissioners to be submitted to the registration officer before entering to the meeting room.
  4. a. Shareholders who are unable to attend the Annual Meeting and Extraordinary Meeting, can be represented by their proxies whose are bringing a valid Power of Attorney as determined by the Board of Directors, provided that members of the Board of Directors, members of the Board of Commissioners and employees of the Company are allowed to act as proxy of the Company’s shareholders at the Meeting Annual and Extraordinary Meeting, but the votes they issued as power of attorney were not taken into account in the voting;

b. The Power of Attorney Form can be obtained every hour and working day in the Company’s office, at Astra Tower 23rd floor Jl. Jend. Sudirman Kav. 5-6 Jakarta 10220 Phone: 021-80600800, Fax: 021 80600801, Please contact the Corporate Secretary, Mrs. Imelda Agustina Kiagoes.

c. All Power of Attorney must be received by the Company’s Board of Directors in the Company’s office as mentioned above no later than 16.00 WIB on Wednesday 22 May 2019. If the Power of Attorney submitted is in the form of a photocopy, then the original Power of Attorney must be submitted before entering the room Meeting.

6. Meeting Materials to be discussed at the Annual Meeting and Extraordinary Meeting are available at the Company’s office as mentioned above and can be obtained by contacting the Corporate Secretary Mrs. Imelda Agustina Kiagoes.

7. The Company does not send a separate Invitation Letter to the Shareholders and this Summon advertisement is an official invitation to the Shareholders.

8. To facilitate the arrangement and order of the Meeting, the Shareholders or their authorized Proxy are requested to be present at the venue of the Meeting 30 minutes before the Meeting begins.

Jakarta, May 2, 2019

Directors of the Company