PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
24. CAPITAL STOCK (continued)
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2010 and 2009
(Expressed in thousands of rupiah, unless otherwise stated)
Number of
shares issued Percentage
Stockholders and fully paid of ownership Amount
Others (each below 5% ownership) 4,322,565,020 67.15% 432,256,503
Total 6,436,800,638 100.00% 643,680,064
The transactions affecting capital stock of the Company from January 1, 2009 to December 31, 2010
are as follows:
a. Based on the minutes of the stockholders’ extraordinary meeting held on August 28, 2007 which
are covered by notarial deed No. 265 of Aulia Taufani, S.H., as a substitute notary of Sutjipto,
S.H., the stockholders approved the increase in the issued and fully paid capital stock by
459,014,453 shares at Rp900 (full amount) per share in connection with the Company’s Limited
Public Offering I to the Stockholders with the Issuance of Pre-emptive Rights and a maximum of
229,507,226 Series I Warrants that were given free as an incentive to the stockholders that
exercised their pre-emptive rights. Every two new shares purchased from the Limited Public
Offering I got one Series I Warrant which could be used to buy new shares at the price of Rp1,100
(full amount) per share. The warrants could be exercised starting December 26, 2007 up to
June 21, 2010. The new shares were listed on the Indonesia Stock Exchange. In relation to
expiration of the warrants, the stockholders approved 442,145,871 Series I Warrants which were
exercised and 12,075,958 Series I Warrants which were not exercised based on the minutes of the
stockholders’ extraordinary meeting which were covered by notarial deed No. 23 dated July 21,
2010 of Fathiah Helmi, S.H.
b. Based on the minutes of the stockholders’ extraordinary meeting held on April 25, 2008 which
were covered by notarial deed No. 44 dated July 18, 2008 of Fathiah Helmi, S.H., the stockholders
approved the distribution of bonus shares through the capitalization of additional paid-in capital
amounting to Rp321,789,380 (Note 25) where each existing share got 1 bonus share. In relation to
the distribution of the bonus shares, the exercise price of Series I Warrants was adjusted from
Rp1,100 (full amount) per share to become Rp550 (full amount) per share and the number of the
outstanding Series I Warrants was correspondingly adjusted from 224,714,603 warrants to
become 449,429,206 warrants. As a result, the issued and fully paid capital stock increased from
Rp321,789,380 (after considering the exercise of warrants disclosed in point “c” below) to
Rp643,578,759.
c. In June 2010 and December 2009, 436,340,202 and 1,013,046 Series I Warrants were exercised,
respectively, which increased the issued and fully paid capital from 6,436,800,638 shares to
become 6,873,140,840 in 2010 and 6,435,787,592 shares to become 6,436,800,638 shares in
2009.
25. ADDITIONAL PAID-IN CAPITAL - NET
As of December 31, 2010 and 2009, the balance of this account arose from the following:
52
2010 2009
Initial public offering in 1990 (Note 1b) 38,668,600 38,668,600
Capitalization of additional paid-in capital
to capital stock in 1994 (33,333,000) (33,333,000)
Stock dividend in 1996 1,908,000 1,908,000
Stock dividend in 1997 9,177,480 9,177,480