PT Megapower Makmur Tbk (MPOW) 2024 GMS: No Dividends Due to Losses, Changes in Directors and Commissioners Approved

AEINews – At the Annual General Meeting of Shareholders (GMS) of PT Megapower Makmur Tbk. (MPOW) which took place on June 12 2024, the company decided not to distribute dividends to shareholders for the 2023 financial year. This was due to a net loss of IDR 3,349,541,619 experienced by the company in the period ending December 31 2023.

The GMS was attended by shareholders representing 84.44% of the total shares with voting rights. During the meeting, the 2023 Annual Report and Annual Financial Report which had been audited by the PKF Public Accounting Firm were approved. Members of the Board of Directors and Board of Commissioners are also exempt from responsibility for managing and supervising the company during that period.

Even though dividends are not distributed, the GMS gives several authorities to the Board of Commissioners and Directors. The Board of Commissioners is given the power to appoint a Public Accounting Firm for the following financial year, while the Board of Directors is given the authority to determine the honorarium.

In addition, the GMS approved changes in the composition of the members of the Board of Directors and Board of Commissioners. Mr Tan Sri Datuk Tee Hock Seng resigned from his position as Chief Commissioner, and Mr King Chai Chan Wee was appointed as the new Chief Commissioner.

The GMS also approved the extension of the implementation of Capital Increases Without Pre-emptive Rights (PMTHMETD) related to the new Management and Employee Stock Option Program (MESOP).

Source: emitennews