General Meeting of Shareholders (GMS)
The General Meeting of Shareholders, hereinafter referred to as GMS, is a corporate
body that holds the highest authority in the Company, provided that the quorum
requirements are met. The GMS is convened by the Board of Directors at the request
of the Board of Commissioners, the Board of Directors, or Shareholders representing
1/10 of the total shares, in order to make important decisions related to the capital
invested in the Company and/or to decide on matters whose authority is not delegated
to the Board of Directors or the Board of Commissioners.
The implementation of the GMS is one of the Company’s obligations as a forum for
shareholders to make important decisions, while taking into account the provisions
of the Articles of Association and applicable laws and regulations. Decisions made
in the GMS must be based on the interests of the Company’s business.
The GMS of PT Pelita Air Service consists of:
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Annual General Meeting of Shareholders (AGMS) to approve the Company’s Work Plan
and Budget, which shall be held no later than 30 (thirty) days after the current
fiscal year begins. In the meeting, the Board of Directors presents the draft
Company Work Plan and Budget, including financial statement projections and other
matters requiring GMS approval for the interests of the Company that have not yet
been included in the draft Company Work Plan and Budget.
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Annual General Meeting of Shareholders (AGMS) to approve the Annual Report,
which shall be held no later than June after the closing of the relevant fiscal year.
In the meeting, the Board of Directors presents the Company’s Annual Report, the
proposed allocation of the Company’s net profit, and other matters requiring GMS
approval for the interests of the Company.
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Extraordinary General Meeting of Shareholders (EGMS), namely a GMS that may be
held at any time based on the Company’s needs.
