Smartfren, Telecommunication Company From Sinar Mas Group Owned By Conglomerate Eka Tjipta Widjaja Willing Private Placement Worth Rp3.1 Trillion

JAKARTA - The telecommunication company from the Sinar Mas group belonging to conglomerate Eka Tjipta Widjaja, PT Smartfren Telecom Tbk (FREN) will hold an annual general meeting of shareholders (AGM) and an extraordinary general meeting of shareholders (EGMS) on Tuesday, 12 July 2022.

Citing the information disclosure page of the Indonesia Stock Exchange (IDX), Tuesday, June 21, the FREN AGMS will discuss several agendas, including approval and ratification of the directors' report regarding the company's financial activities and administration for the 2021 financial year.

In addition, the AGMS will also determine the use of the company's profit and loss for the 2021 financial year and changes in the composition of the company's board of commissioners and/or directors.

Furthermore, the FREN board of directors will also disclose an accountability report on the realization of the use of the proceeds from the implementation of the Company's Series II Warrants and Series III Warrants. The agenda for the EGMS includes approval of changes to the aims and objectives as well as the company's business activities by referring to the 2020 Indonesian Standard Classification of Business Fields (KBLI 2020).

Furthermore, the meeting agenda includes approval of FREN's plan to increase capital without giving pre-emptive rights to a maximum of 31 billion series C shares. The exercise price is set at Rp100 per share. As a result, the value of FREN's private placement is around Rp. 3.1 trillion.

"The number of shares issued is a maximum of 10 percent of the issued and paid-up capital of the company in accordance with the provisions of OJK Regulation No. 14/POJK.04/2019," wrote the Smartfren directors.

The company also plans to consolidate its joint business with its subsidiary, PT Smart Telecom (Smartel) in which FREN owns more than 99 percent of its shares, to operate a mobile cellular network that has the right to use radio frequency spectrum for cellular provider purposes.

This is in accordance with the regulations of the Minister of Communication and Information of the Republic of Indonesia. Technically, the AGMS and EGMS will be held physically or face-to-face while still applying the mechanism for granting power electronically (e-Proxy) through the KSEI Electronic General Meeting System (KSEI eASY) facility provided by PT Kustodian Sentral Efek Indonesia (KSEI).

Shareholders who are entitled to attend or be represented at the meeting include shareholders whose names are included in the Company's Register of Shareholders on Thursday, June 16, 2022, no later than 16.00 WIB.

Other shareholders who are entitled to attend if their names are legally registered in the register of shareholders of the account or custodian bank at KSEI on Thursday, June 16, 2022, no later than 16.00 WIB.

The AGMS and EGMS will be held at 14.00 WIB until finished, located in the Auditorium Room 3rd Floor Smartfren Building, Jalan H. Agus Salim No.45 Central Jakarta.