Inalum Officially Enter, Vale Appoints 5 New Leaders

Jakarta, CNBC Indonesia PT Vale Indonesia Tbk (INCO) welcomed one new director and four commissioners after being appointed at the Extraordinary General Meeting of Shareholders (EGMS) which was held this morning, Monday (7/9/2020). The addition of the five new figures is related to the entry of PT Inalum (Persero) or now known as Mining Industry Indonesia (MIND ID) as the company’s shareholders.

President Director of Vale Indonesia Nicolas D. Kanter in his statement said that the shareholders approved the appointment of Adriansyah Chaniago as the new Vice President Director of the Company for the next three years.

This appointment is effective upon completion of the sale and purchase of shares between the controlling shareholder and the major shareholder and the prospective buyer in connection with the obligation to divest 20% of the Company’s shares, until the closing of the Company’s 2024 Annual General Meeting of Shareholders.

“There is an additional independent commissioner in the board of commissioners. This is due to the addition of commissioners from Inalum, a candidate for Vale’s shareholder,” Nicolas said in a virtual press conference, Monday (7/9/2020).

The new director at this company, Adriansyah Chaniago, was previously an independent commissioner and chairman of the audit committee of PT Jasa Marga Tbk (JSMR). Since July 2020, he is a Commissioner of PT Samudra Energy.

The following is the composition of Vale’s board of directors from the effective date of appointment:

President Director: Nicolas D. Kanter

Vice President Director: Adriansyah Chaniago
Director: Febriany Eddy
Director: Bernardus Irmanto
Director: Dani Widjaja
Director: Agus Superiadi
Direktur: Vinicius Mendes Ferreira

At the same time, Ogi Prastomiyono was appointed as the new Vice President Commissioner, Rizal Sukma and Alexandre Silva D’Ambrosio as Commissioners respectively, and Dwia Aries Tina Pulubuhu as Independent Commissioners.

The following are Vale’s new commissioners:

President Commissioner: Mark James Travers

Vice President Commissioner: Ogi Prastomiyono

Commissioner: Luiz Fernando Landeiro
Komisaris : Cory McPhee
Komisaris: Nobuhiro Matsumoto
Commissioner: Rizal Sukma
Commissioner: Alexandre Silva D’Ambrosio
Independent Commissioner: Raden Sukhyar
Independent Commissioner: Rudiantara
Independent Commissioner: Dwia Aries Tina Pulubuhu

In June, the Indonesian government officially signed an agreement to take 20% of Vale Indonesia’s shares through the holding of the state-owned mining company, Mining Industry Indonesia (MIND ID) or PT Indonesia Asahan Aluminum (Inalum).

This share purchase is a divestment of other majority shareholders of Vale Indonesia, namely Vale Canada Limited (VCL) and Sumitomo Metal Mining Co., Ltd. (SMM). In the sale of 20% shares, VCL will sell 14.9% shares and SMM 5.1% at a price of Rp 2,780 per unit.

After the transaction is completed, the share ownership in Vale Indonesia will change to VCL 44.3%, MIND ID 20%, SMM 15%, and the public 20.7%. This sales transaction is targeted to be completed by the end of 2020. The purchase price for the divestment shares is IDR 5.52 trillion at IDR 2,870 / share.

[Gambas:Video CNBC]

(wia / wia)



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