Page 173 - XL Axiata Integrated Anual Report 2020 ENG

2020 Integrated Annual Report 171
Corporate Governance
Practices In XL Axiata
Implementation of Corporate Governance Refering to Provisions of OJK Regulation No. 21/POJK.04/2015 on the Implementation of Public Company Governance Guidelines and OJK Circular Letter No. 32/ SEOJK.04/2015 on Guidelines for Public Company Governance.
Relationship Between Public Company and Shareholders In Ensuring The Rights Of Shareholders
Principles
Principle 1
Enhancing the Value of General Meeting of Shareholders (GMS)
Recommendations
The Public Company has a way or technical procedure for both open and closed voting that prioritize independency and interest of Shareholders
All members of the Board of Directors and the Board of Commissioners of Public Company attend the Annual GMS
The Summary of Minutes of GMS
is available in the Public Company’s website at least for one (1) year.
Explanation On OJK Recommendations
Every issued share with voting right has one vote (one share one vote). The Shareholders may use their voting rights during the decision-making process, in particular to decision with voting mechanism. However, both open and closed voting mechanism has not been specifically regulated.
The Public Company is recommended to have voting procedure in decision making of GMS agenda. The voting procedure must maintain shareholders’ independency or freedom. As an example, an open voting mechanism is implemented by raising hand in accordance with option as offered by the GMS chairman. AS for close voting mechanism is conducted in any decision that required confidentiality or by request from Shareholders through voting card or electronic voting.
The presence of all members of the Board of Directors and the Board of Commissioners of the public company aim so that each member of the Board of Directors
and the Board of Commissioners can pay attention to explain, and directly answer the issues or questions raised by shareholders related the GMS agenda.
Based on Article 34 paragraph (2) of the Financial Services Authority Regulation No.32/POJK.04/2014 on the Plan and Implementation of the General Meeting of Shareholders of Public Company, The Public Company must make summary of GMS Minutes in Indonesian and foreign language (minimum in English), and announced to the public within two (2) working days after the GMS, one of which is through the Public Company Website. The availability of summary of GMS Minutes in the Public Company Website provides an opportunity for shareholders who are not present, to easily
obtain important information in GMS implementation. Therefore, the provision on the minimum period of availability of GMS Minutes summary on the Website are intended to provide sufficient time for shareholders to obtain such information.
Comply
Based on the Article 11 (18)
of the Articles
of Association, each share has one vote for the holder in the General Meeting of Shareholders.
All members of the Board of Directors and the Board of Commissioners of XL Axiata were present in the Company’s AGMS dated 18 May 2020.
All information on XL Axiata GMS Summary is available at the Company’s website (www. xlaxiata.co.id).
TRANSFORM FASTER TO EMERGE STRONGER – GIVING BACK TO THE NATION
PT. XL AXIATA TBK