2015-2016 STOCK BUY-BACK BRI exercised stock buyback during 3 months. from 12 October 2015 until 12 January 2016 with a total purchase of 221.718.000 shares at an acquisition price of IDR2.419 trillion. The initial target of buyback was planned at IDR2.5 trillion provided that the number of BRI shares buyback does not exceed 20% of the total paid-up capital and at least 7.5% of paid-up capital. Following the BRI’s IPO and oversubscribed as well as allocated options. the Government of Republic of Indonesia holds 59.50% shares of BRI. Stock Buy Back in 2015-2016 Total Number of shares Average Purchase Price Increase in Earnings per Share 221,718,000 shares IDR10,910/ shares IDR9.5/ shares Note: before stock split 1:5 In performing the stock buyback and/or bonds. the Bank complies with the prevailing external regulations. among others: - Law No. 40 of 2007 on Limited Liability Company. - OJK Regulation No. 2/POJK.04/2013 on Stock Buyback by Issuers or Public Companies in Significantly Fluctuating Market Conditions. - OJK Circular Letter No. 22/SEOJK.04/2013 on Other Conditions as Significantly Fluctuating Market Conditions of Stock Buyback by Issuers or Public Companies in Significantly Fluctuating Market Conditions. - Bank Indonesia Regulation No. 15/12/DASP/2013 regarding the Procedures for the Auction of Government Securities in the Primary Market and the Administration of Government Securities. The source of buyback funds was the Bank’s internal cash and there was an assurance that the funds would not impact the Bank’s financial condition required to finance its activities. All buy back transactions have been administered to the OJK on 13 January 2016. The buyback shares are planned to be used the Management/Employee Share Ownership Program. 2017 STOCK SPLIT 1:5 Berdasarkan Pursuant to the Extraordinary General Meeting of Shareholders (“EGMS”) held on 18 October 2017. the shareholders approved a stock split from IDR250 per shares previously to IDR50 per shares (Ratio 1:5). The share price prior to stock split on 9 November 2017 was IDR16.450 and were changed to IDR3.280 at the closing of trading on 10 November 2017. Thus. the total shares outstanding prior to the stock split was 24.669.162.000 shares and at the stock split was 123.945.810.000 shares as of 10 November 2017. There were no changes on the shares’ ownership composition by the Government or Public prior to and after the stock split. The shares listing chronology in relation with this corporate action are as follow: Stock Split in 2017 Description Shareholders (Total Shares Outstanding) Total Shares Outstanding Government Public Nominal Number of (shares) % Number of (shares) % IDR Before Stock Split 14,000,000,000 56.75 10,669,162,000 43.25 250 24,669,162,000 After Stock Split 70,000,000,000 56.75 53,345,810,000 43.25 50 123,345,810,000 2019 EMPLOYEE STOCK OPTION PROGRAM/ESOP Pursuant to the GMS Resolution dated 23 March 2016. Agenda 5 stated the Approval of transfer of shares from shares buy-back that recorded as treasury stock. which was carried out for the Management and Employee Stock Ownership Program as well as the power of attorney and grant of authority to the Board of Commissioners to set such Program following the written approval of Shareholders series A Dwiwarna. including by taking into account the Letter of SOE Ministry regarding the support on the implementation of BRI Employee Stock Ownership Program (ESOP). in 2019 BRI has carried out the ESOP. The share ownership program in the form of an ESA which began to be distributed in 2019 is a program for granting a number of Company shares to Participants according to the stipulated Grant and Vesting requirements. During the 2019 period. the Company has delegated shares of the share ownership program in the form of Stage 1 ESA Allocation of approximately 143.000.000 shares to BRI Employees who meet the requirements. The use of stock treasury for ESOP has been reported to the OJK on May 2019. PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 157 Company Profile
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