The Company’s Board of Directors pronounces that the Company has held the Extraordinary General Meeting of Shareholders:

 

A.    Time and  Place:

        Date                 : Tuesday, 29 September 2015

               Venue                : HARRIS Hotel Tebet - Jakarta

Jl. Dr.Saharjo No. 191, Jakarta 12960

Time                 : 10.20AM – 10.48AM    

       

Agenda:

The Company plans to change the planned use of proceeds from the Limited Public Offering I with the Preemptive Rights of the Company (hereinafter referred to as the ‘Meeting’).

 

                B.    The Members of the Board of Directors and Commissionaires who attended the Meeting:

Board of Directors:

·       PresidentDirector             :           Mr. AGOES SOELISTYO SANTOSO;

·       Director                            :           Mr. PATRICK SANTOSA RENDRADJAJA;

·       Director                            :           Mrs. DIANA SOLAIMAN;

 

Board of Commissionaires:

·       President Commissionaire who also serves as

·    Independent Commissionaire      :           Mr. TODO SIHOMBING;

·       Commissionaire                              :           Mr. KAREL PATIPEILOHY;

·       Independent Commissionaire        :           Mr. HADI CAHYADI.

 

C.    Chairman of Meeting:

The Meeting was led by Mr. TODO SIHOMBING as the President Commissionaireswho also serves as the Company’s Independent Commissionaire.

 

D.    The Shareholders Attendance:

The Meeting was attended by shareholders and proxies representing 11,066,976,802 shares or 98.97% of the 11,181,971,732 shares which represent the total number of shares issued by the Company.

 

E.    The Q&A Session and/or Opinion Hearing:

       ·       Shareholders and proxies were given the opportunity to ask questions and/or opinion in the Meeting.

       ·     There was one shareholder and/or proxies who give a question and/or opinion in the Meeting.

 

                 F.     The Mechanism of Decision-Making:

The Decision-making throughout the Meeting was done by consensus agreement. If no agreement is reached, the decision-making is determined by voting.

 

                 G.   The Vote Result:

·       There are no shareholders or proxies who are present gives abstention (blank);

·       There are no shareholder and proxies who are present voted against the agreement;

·       All shareholders or proxies who attended the meeting voted in favor of the agreement;

·       Hence, the decision was approved by the Meeting through a consensus agreement.

 

 

                 H.    The Meeting Result:

  1. Approved changes to the planned use of proceeds from the Limited Public Offering I with the Preemptive Rights of the Company ("LPO I") to be as follows:

The proceeds of the LPO I, after deducting the costs of emissions which become liabilities of the Company, are to be used for:

  1. Amounting to 82.07% will be used to purchase shares of PT Plaza Indonesia Realty Tbk (‘PLIN’) as much as 920,000,000 (nine hundred and twenty million) shares, or approximately 25.91% ownership, with the overall value of IDR 2,300,000,000,000 from Nexus Solutions Pte (unaffiliated)(hereinafter will be referred to as “PLIN Transaction”);
  2. Amounting to 1.52% will be used to purchase shares of companies of PT Grahatama Kreasibaru (affiliated), namely:

a.      PT Sepingan Property amounting to 8,974,499 shares, or 50.00% ownership, with the overall value of IDR 13,500,000,000. Furthermore, this transaction is referred to as (“SP Transaction”);

b.     PT Mitra Perdana Nuansa amounting to 25,000 shares, or 51.00% ownership, with the overall value of IDR 29,000,000,000. Furthermore, this transaction is referred to as (“MPN Transaction”);

c.   Amounting to 3.46% will be used to purchase  shares of PT Anugerah Nusaraya as much as 41,202,437 shares, or 51.00% ownership, with the overall value of IDR 97,000,000,000 from:

       a.      PT Andalan Karya Property ("AKP") (affiliated) amounting to 1,615,782 shares or 2.00% ownership;

      b.     Unipac Holdings Ltd. ("UH") (unaffiliated) amountting to 39,586,655 shares or 49.00% ownership (furthermore, this transaction is referred to as “AN Transaction”).

 d.   The rest will be used for:

           a.      Amounting to 6.85% will be used to purchase shares of PT Mitra Gemilang                 Mahacipta (“MGM”) as much as 13,888 shares or 55.00% ownership, with the                   overall value of IDR 192,000,000,000 (one hundred ninety-two billion Rupiah) from       PT Daksa Utama Mandiri (“DUM” unaffiliated) (furthermore, this transaction is              referred to as “MGM Transaction”).

          b.    The rest will be used for working capital and business development of the Company   and/or Subsidiary and Associated Companies, in the form of new project development,   capital investment, as well as the acquisition of land and/or acquisition of a company     that already has a project and/or have owned land for development and/or has had a         land development permit. The funds will be given from the Company to the Subsidiary   and/or the Company Association in the form of additional capital and/or loan, and/or       through equity participation.

 

  1. Granting authority and power to the Board of Commissioners and/or Board of Directors, with right of substitution, to perform all necessary actions with respect to the changes in the planned use of proceeds from the LPO I, including but not limited to:

 

Undertake all necessary actions with respect to changes in the planned use of the proceeds from the LPO I, without any exception, subject to the provisions of legislation in force and regulations prevailing in the Capital Market.

 

Jakarta, 29 September 2015

 

PT Indonesian Paradise Property Tbk.

Director