Annual General Meeting of Shareholders and Extraordinary General Meeting of Shareholders PT MD PICTURES Tbk - August 24, 2020

MD Pictures held an Annual General Meeting of Shareholders and an Extraordinary General Meeting of Shareholders

2020-09-15 00:44:51

Monday, August 14, 2020
MD Pictures held an Annual General Meeting of Shareholders and an Extraordinary General Meeting of Shareholders with an agenda
The details of the resolutions of the Meeting are as follows:

AGMS:
1. a. Approve and accept both the Board of Directors' Annual Report regarding the condition and operation of the Company, Financial Administration for the Fiscal Year ending 31 December 2019;
b. Accepted and approved the report on the performance of the Board of Commissioners for the 2019 financial year;
c. Approve and ratify the Company's Balance Sheet and Profit / Loss Calculation for the Financial Year ending on December 31, 2019 (Company's Financial Statements) which have been audited by Jamaludin, Ardi, Sukimto & Rekan, Public Accountants, and provide repayment and release of responsibility (Acquit et de Charge) fully to the members of the Board of Directors and the Board of Commissioners of the Company for the management and supervision actions that have been carried out, to the extent that these actions are reflected in the annual report and annual calculations of the Company for the financial year ended 31 December 2019.

2. Approved the use of the Company's Net Profits for the financial year ended December 31, 2019 amounting to Rp.60,956,713,925, - with the following details:


• As much as 5 billion rupiahs set aside for reserve funds;
• The remainder of the net profit for the 2019 Financial Year which is not determined for use is determined as retained earnings.

3. a. Approved to appoint Jamaludin, Ardi, Sukimto & Rekan, Public Accountant Firm to carry out a General Audit of the Company's Consolidated Financial Statements for the 2020 financial year.
b. Approved to authorize the Board of Commissioners of the Company to:
• appoint a replacement KAP and determine the conditions and requirements for its appointment if the appointed KAP is unable to carry out or continue its duties for any reason, including legal reasons and laws and regulations in the capital market sector or an agreement is not reached regarding the amount of audit services.


• authorizes the Board of Commissioners to determine the fee for audit services and other terms of appointment that are reasonable for the KAP office.


4. a. Agree to determine the salary or honorarium and other benefits for members of the Company's Board of Commissioners of a maximum of 1 billion Rupiah and a maximum of 2 billion Rupiah of Directors of the Company for the 2020 financial year.
b. Agree to give power and authority to the Company's Board of Commissioners to determine the salary or honorarium and other benefits for members of the Company's Board of Directors for the 2020 financial year.

5. Receive good reports on the use of proceeds from the Company's Initial Public Offering.

EGMS:

1. a. Approved the resignation of Mr. Bachtiar Effendi as the Independent Commissioner and immediately appointed Mr. Sanjeva Advani as his new replacement, provided that for the remaining term of office of the other Board of Commissioners, then reappointed all members of the Board of Commissioners and Directors of the Company as of the closing of this Meeting until the closing The Annual General Meeting of Shareholders held in 2023 is as follows:


Board of Commissioners:
President Commissioner: Mr. DHAMOO JETHMAL PUNJABI
Independent Commissioner: Mr. SANJEVA ADVANI
Directors:
President Director: Mr. MANOJ DHAMOO PUNJABI
Director: Mrs. SHANIA MANOJ PUNJABI
Director: Mr. VENKATACHARI SOUNDARARAJAN
Director: Mr. SAJAN LACHMANDAS MULANI
Director: Mr DAVID ELLIOTT ULMER, Jr

b. Agree to give the power and authority to the Board of Directors of the Company to take all necessary actions in connection with the change in the composition of the Board of Commissioners and the reappointment of the Board of Directors and the Board of Commissioners in accordance with applicable laws and regulations.

2. a. Approving the Company to dissolve its subsidiary PT Mixx Entertainment, because there are no future prospects, and following the Limited Liability Company Law Article 142 to dissolve this subsidiary requires approval in this EGMS.
     b. Agree to give power and authority to the Board of Directors of the Company to take all necessary actions in connection with the liquidation of the subsidiary.
 
3. a. Approved the provision of guarantees to the Bank for the holding company (MD Graha Utama).
     b. Agree to give power and authority to the Board of Directors of the Company to take all necessary actions in connection with the decision in point 3.a mentioned above.

4. Approved additional investment in PT Jakarta FILM Studios.
 

NEWS GALLERY

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