Press Release No. 009/KFCP-DIR/PR/V/13
Jakarta, May 20, 2013 – PT Kalbe Farma Tbk and Subsidiaries (“Kalbe” or “the Company”) will cancel its entire treasury stocks. The cancellation of 3,904,950,000 shares is equivalent to 7.7% of the Company’s paid-up capital. The cancellation has obtained the approval of the shareholders of the Company present in the Annual General Meeting of Shareholders (“AGMS”) and Extraordinary General Meeting of Shareholders (“EGMS”) convened on May 20, 2013 in Bintang Toedjoe Building, Pulomas, Jakarta.
“In line with Kalbe’s commitment to enhance shareholders’ value, the management proposed to cancel all treasury stocks,’ said Vidjongtius, Kalbe’s Finance Director and Corporate Secretary. “Taking into account strong internal financial position, and external financing potentials, in order to maximize shareholders’ value, we believe the cancellation of treasury stocks is the best decision for the Company and the shareholders. The cancellation has no impact on the Company’s current financial position, and going forward, this is expected to maintain an optimal level of earnings per share, return on equity and return on assets for the shareholders.”
In addition, to further enhance shareholders’ value, the Company has also obtained shareholders’ approval on dividend payment of Rp 19 per share, or equivalent to Rp 891 billion. The dividend payment reflects a dividend payout ratio of 51%, in line with our dividend policy of at least 50% of the previous fiscal year’s net income.
At the same time, supported by strong financial position, the Company consistently continues the expansion plan to support future business growth. For year 2013, the Company has budgeted capital expenditure in the range of Rp 1 trillion – Rp 1.5 trillion, to be used to finance production capacity expansion across all segments, and to strengthen distribution network.
In 2012, Kalbe recorded strong performance with total net sales reaching Rp 13,636 billion, or equivalent to 25.0% growth, while net income reaches Rp 1,734 billion or up by 17.0% compared to 2011.The Company also maintained strong cash flow generation with operating cash flows amounted to Rp 1,376 billion.
In the AGMS, Kalbe has obtained the approval of the shareholders for the following agenda:
Approval of the Annual Report of the Board of Directors of the Company for the year ended December 31, 2012;
Approval and ratification of the Company’s Financial Statements for the year ended December 31, 2012 and to grant a discharge from their responsibilities to all members of the Board of Commissioners and Board of Directors for their management and supervision actions during the financial year ended December 31, 2012 (acquit et decharge);
Approval on the appropriation of the Company’s net income for the financial year ended December 31, 2012.
Determination of salary and/or honorarium of the members of the Board of Commissioners and the Board of Directors and to authorize the Board of Commissioners to determine the salary and/or honorarium of the members of the Company’s Board of Commissioners and Board of Directors.
Appointment of Independent Public Accountant to audit the Company’s Financial Statements for the year ended December 31, 2013 and to authorize the Board of Directors to determine the honorarium of the Independent Public Accountant and other appointment’s conditions.
In the EGMS, Kalbe has obtained the approval of the shareholders on the agenda related to the cancellation of Treasury Stocks and the adjustment of the provision of the Company’s Articles of Association in relation with the cancellation of the Treasury Stocks.
With the cancellation, the Company’s paid up capital previously consisting of 50,780,072,110 shares with nominal value of Rp 507,800,721,100, will be reduced by 7.7% to 46,875,122,110 shares with total nominal value of Rp 468,751,221,100.
Kalbe at a Glance
PT Kalbe Farma Tbk. (“Kalbe”) was established in 1966 and is one of the largest publicly-listed pharmaceutical companies in Southeast Asia. Kalbe has four main divisions managing a broad and strong portfolio of brands; prescription pharmaceuticals division (Cefspan, Brainact, Broadced, etc), consumer health division comprising over-the-counter drugs (Woods, Promag, Mixagrip, Komix, Fatigon, etc) as well as ready-to-drink and energy drink products (Hydro Coco, Extra Joss, Nitros), nutritionals division (ChilKid, Prenagen, Diabetasol, etc), and distribution division. Kalbe currently has more than 20 subsidiaries and 11 production facilities with international standards, supported by more than 15,000 employees and 4,000 sales and marketing personnel, spread in more than 65 branches across Indonesia. Since 1991, Kalbe’s shares have been listed on the Indonesia Stock Exchange (IDX: KLBF).