PT TIMAH Tbk was established based on Deed of Establishment No. 1 dated August 2, 1976, executed before Imas Fatimah, S.H., a Notary in Jakarta, and was approved by the Minister of Justice of the Republic of Indonesia through Decree No. Y.A.5/65/17 dated February 5, 1977.
Over time, the Company’s Articles of Association have undergone several amendments to comply with prevailing laws and regulations and to adapt to business dynamics. The latest amendment is stipulated in Deed of Statement of Meeting Resolutions No. 6 dated July 13, 2023, made by Rini Yulianti, S.H., a Notary in East Jakarta, and has been received and recorded in the Legal Entity Administration System of the Ministry of Law and Human Rights of the Republic of Indonesia through Notification Receipt Letter No. AHU-AH.01.03-0091474 dated July 13, 2023.
In the spirit of Good Corporate Governance, PT TIMAH Tbk’s Articles of Association also grant non-controlling shareholders the right to propose candidates for the Board of Directors and/or the Board of Commissioners. This provision is stipulated in Article 23, paragraph 6.b.2, which states that proposals for the agenda of the General Meeting of Shareholders (GMS) may be submitted by one or more shareholders representing at least 1/20 (one-twentieth) of the total number of shares in the Company.
To ensure transparency in the decision-making process, the Company applies a vote-by-poll system at every GMS. By Article 5 of the Articles of Association, each share—whether Series A Dwiwarna or Series B—carries equal voting rights, namely, one vote per share.
