Jakarta,- PT Adaro Energy Indonesia Tbk (ADRO) held an annual general meeting of shareholders (AGMS) on May 15, 2024 which discussed the planned use of profits in 2023 and changes in the composition of the Company's management.

In terms of the use of 2023 profits, shareholders approved the payment of cash dividends of USD 1.64 billion, of which USD 800 million or as much as 48.74 percent will be used for cash dividend payments.

Then, as much as USD 400 million was used for interim dividends paid by ADRO on January 12, 2024 and the remaining USD 841.43 million was designated as retained earnings.

President Director of ADRO, Garibaldi Thohir, said that the cash dividend distribution is a manifestation of the Company's commitment to shareholders which is distributed regularly and share buybacks.

"After distributing the interim dividend in January 2024, at this meeting we received approval from the Company's shareholders to distribute a final cash dividend of USD 400 million," Garibaldi said in an official statement quoted on May 16, 2024.

In addition, the shareholders also approved the amendment to Article 4, paragraph (2).

of the Company's Articles of Association in connection with the reduction of issued and fully paid-up capital through the withdrawal of shares from the Company's buyback of 1.22 billion shares or representing 3.84 percent of the entire issued and fully paid-up capital in the Company.

Thus, the Company's issued and paid-up capital, which originally amounted to 31,985,962,000 shares with a nominal value of Rp3.19 trillion, became 30,758,665,900 shares with a nominal value of Rp3.07 trillion.

Meanwhile, the shareholders also approved the appointment of Iwan Dewono Budiyuwono as Director of the Company for a term of office starting from the closing of this meeting and continuing the term of office of other members of the Board of Directors who currently serve, namely until the closing of the Company's AGMS in 2028.

Furthermore, granting acquit et discharge to Chia Ah Hoo from her position as Director of the Company and all actions taken in order to carry out her obligations during her term as Director of the Company with effective effect from the closing of the AGMS.

Therefore, the composition of the Company's Board of Directors changes as follows:

- President Director: Garibaldi Thohir

- Vice President Director: Christian Ariano Rachmat

- Director: Michael William P. Soeryadjaya

- Director: Mohammad Shah Indra Aman

- Director: Julius Aslan

- Director: Iwan Dewono Budiyuwono.

Sources : djakarta-miningclub.com  May 24.24