SMBR Holds EGMS Early 2023, New Round After Integration With A GIS

Photo: Doc. Semen Baturaja

JAKARTA - PT Semen Baturaja (Persero) Tbk (SMBR) has just held an Extraordinary General Meeting of Shareholders (EGMS) of PT Semen Baturaja (Persero) Tbk (SMBR) which was held at the Sari Pan Pacific Hotel, Jakarta, Tuesday, January 24.

This meeting took place face-to-face at the Sari Pacific Hotel Ballroom Palace and electronically using the KSEI Electronic General Meeting System (System EASY KSEI) facility. At this EGMS, the EGMS scheduled two main agenda items, namely changes to the Company's Articles of Association and Changes in the Company's Management.

The EGMS which began at 14.35 WIB was attended by majority and minority shareholders. The event was opened by President Commissioner Franky Sibarani and continued with the discussion of the first agenda item, changes to the Company's Articles of Association.

The change in the Company's Articles of Association was based on the joining of SMBR with PT Semen Indonesia (Persero) Tbk (SIG) in the cement subcluster holding. At the end of 2022 it became a historic milestone for SMBR, where the SMBR integration process to GIS was successfully completed and has completed the entire stage of establishing a cement sub cluster BUMN holding which was marked by the signing of the Deed of Share Transfer Agreement on December 19, 2022 between the Republic of Indonesia and GIS.

A total of 7,499,999,999 Series B shares belonging to the Republic of Indonesia in SMBR have transferred their ownership to GIS, so that SMBR's status has changed to Non-Persero and has become a subsidiary of GIS.

The Republic of Indonesia still holds one Series A Dwiwarna stake, GIS owns 7,499,999,999 Series B shares and the public owns 2,432,534,336 Series B shares.

In addition to changing names, the EGMS also decided to amend several articles in the Company's articles in the articles of association, including related to capital, stocks, duties, directors' authority and obligations, directors' meetings, work plans and annual budgets, and other articles that regulate the articles of association.

In the second agenda, there is a change in the composition of the Company's Management. To stop with respect to the members of the Board of Commissioners, namely Independent Commissioner Darusman Mawardi and Commissioner Oke Nurwan and appoint Hadi Daryanto as Commissioner of the Company.

In addition, the EGMS also honorably dismissed members of the SMBR Board of Directors, namely the Marketing Director, Mukhamad Saifudin and the General Director & HR, Gatot Mardiana. Furthermore, there is a change in the nomenclature of the Director of Finance and Risk Management to Director (Fundance Finance and Human Resources), Director of Production and Development to Director (Perseroan Operations Function), so that the composition of management changes to be as follows:

President Commissioner: Francis MA Sibarani Independent Commissioner: Chowadja SanovaCommissioner: Hadi Daryanto

President Director: Daconi Khotob Director (Fungsi Keuangan dan SDM Perseroan): Tubagus Muhammad Dharury Director (Fungsi Operasi Perseroan): Suherman Yahya

A little description of the performance in 2022, amid a decline in demand in the Sumatra region, especially South Sumatra (Sumbagsel) which is a base market area, SMBR was able to increase the sales volume of cement by 4 percent so that SMBR's market share in South Sumatra became 34 percent or grew 3 percent.

This performance growth is inseparable from the consistency of SMBR's management in implementing strategic initiatives such as strengthening market positions, cost leadership through the SMBRGO45 program and efforts to improve employee competence.