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Siloam Hospitals closes agenda on general shareholders’ meeting for fiscal year 2022
This week, PT Siloam International Hospitals TBK (Siloam) closed all agendas of its Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) for the 2022 fiscal year with full support from its shareholders.
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his week, PT Siloam International Hospitals TBK (Siloam) closed all agendas of its Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) for the 2022 fiscal year with full support from its shareholders. The AGMS approved the distribution of dividends for the 2022 fiscal year with the amount of Rp 255 billion, alongside a dividend payout ratio (DPR) of 36 percent of its 2022 net profit and a dividend per share of Rp 19.67.
To practice a globally sustainable business, it is important to rotate Siloam’s board of directors and board of commissioners at the end of each office term. However, in order to maintain the trust of the company's shareholders, Siloam does not replace its board of directors or board of commissioners during their term of office. The shareholders have agreed to release the duties of all directors and board of commissioners upon the end of their term of office in 2023. The entire management of Siloam is grateful for the guidance and wisdom of the previous board of directors and the board of commissioners, who led Siloam through the pandemic and continued to achieve significant growth during their tenure.
In order to improve Siloam’s performance on an ongoing basis, the company appointed a new board of directors and board of commissioners, who will be active for a term of 3 years and will be effective immediately after their most recent AGMS. With a strong spirit of professionalism and a focused priority toward the success of Siloam programs in the future, Benny Haryanto Djie was appointed as the president director of Siloam during the AGMS. Prior to joining Siloam, Djie had extensive experience in various financial industries, holding senior management positions for more than 3 decades.
Djie played a critical role in implementing a digitalized infrastructure for the capital market of Indonesia. Additionally, while serving as director of PT Kustodian Sentral Efek Indonesia (KSEI), he succeeded in effectively transforming the Indonesian capital market and implementing a book-entry settlement system for trading shares on the Indonesia Stock Exchange (IDX). This transformation is noteworthy because it has become the basis for effective and efficient stock trading in the Indonesian capital market. Furthermore, during his tenure as president director of PT Ciptadana Capital, he succeeded in leading business transformation by implementing PT Ciptadana Capital's service diversification, which then led PT Ciptadana Capital to achieve higher growth rates.
In the EGMS agenda, Siloam’s shareholders also approved their plan to buy back shares in the framework of the Company's Management and Employee Shares Ownership Program (MESOP) for the 2024-2027 period. Aside from that, in order to better align management and employees' Performance Indicators (KPI) with shareholders, the company implemented a share ownership option program for employees and management. Through this program, management and senior employees will be given a number of shares as part of their remuneration, in accordance to their achieved KPIs and share price guidelines.
The period for share buybacks will tentatively start on May 29 of this year and is to last up to May 29, 2024. This is subject to change, and the final date will be determined by the board of directors of Siloam within the time limit specified in Article 8 of Financial Services Authority (OJK) Regulation No. 30/2017. The costs that will be incurred for the implementation of this program are planned to be a maximum of Rp 50 billion, which still excludes securities brokerage fees and other costs related to the share buybacks. The number of Siloam shares to be bought back is set at a maximum of 0.30 percent of the issued and paid-up capital in the company including treasury shares.
