GENERAL MEETING OF SHAREHOLDERS (GMS)
The General Meeting of Shareholders, hereinafter referred to as the GMS, is the organ of the Company that holds the highest authority which meets the quorum requirements and is convened by the Board of Directors at the request of the Commissioners, Directors, or Shareholders representing 1/10 of the total shares in order to make important decisions relating to capital invested in the company and/or for making decisions on matters whose authority is not delegated to the Board of Directors or Commissioners.
The holding of the GMS is the company's obligation as a forum for shareholders to make important decisions, taking into account the provisions of the articles of association and laws/regulations in which decisions made at the GMS must be based on the Company's business interests.
Pertamina's GMS consists of:
The Annual General Meeting of Shareholders (AGMS) to approve the Company's Work Plan and Budget is held no later than 30 (thirty) days after the current fiscal year (the fiscal year of the related Company's Work Plan and Budget). In the meeting, the Board of Directors presents the draft of the Company's Work Plan and Budget including the projection of the Financial Statements as well as other matters that require approval from the GMS for the benefit of the Company that have not been included in the Draft Company's Work Plan and Budget.
The Annual General Meeting of Shareholders (AGMS) to approve the Annual Report is held no later than June after the close of the relevant accounting year. In the meeting, the Board of Directors submits the Company's Annual Report, the Proposal of the Company's net profit use, as well as other matters that need approval from the GMS for the benefit of the Company.
Extraordinary General Meeting of Shareholders (EGMS) is a GMS held at any time based on the needs of the company.
