Jakarta, 20 May 2024 - PT GoTo Gojek Tokopedia Tbk (“GoTo” or “the Company”) today disclosed the agenda for its 11 June 2024 Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) via the Indonesia Stock Exchange (IDX), eAsy.KSEI and the Company's website. The agenda for the GMS includes proposals for a previously announced share buyback scheme as well as changes to the composition of GoTo's Board of Commissioners and Board of Directors.
GoTo will seek approval from shareholders for its share buyback scheme, amounting to Rp3.2 trillion or US$ 200 million. The Company's Board of Directors and Board of Commissioners will review the buyback program periodically, and may make amendments on an ongoing basis.
Patrick Walujo, President Director, GoTo Group said: “Our proposed $200 million share buyback program is testament to the progress GoTo is making as we implement our strategy for accelerated, sustainable growth. Cash flow is improving and as there is significant value in our stock, we believe a buyback is prudent as we look to ensure we are using our resources efficiently.”
The Company is also revealing an enhanced leadership structure as part of its GMS agenda, proposing John A. Prasetio as an Independent Commissioner, replacing Robert Holmes Swan who will step down at the end of his term. John has extensive experience across a range of industries, including as Chairman of Ernst & Young Indonesia and Vice Chairman of the Indonesian Chamber of Commerce and Industry (KADIN Indonesia). He currently acts as President Commissioner of the IDX, as well as maintaining advisory roles across a number of other institutions.
Additionally, William Tanuwijaya and Melissa Siska Juminto have completed their terms on the Board of Commissioners and Board of Directors respectively, while Andre Soelistyo will resign from the Board of Commissioners to pursue other interests having served as GoTo's Commissioner over the past year.
Patrick added: “As GoTo has grown over the years, our leadership team has evolved to ensure it always has the best possible level of expertise for the Company’s next stage of development. It is therefore an honor to propose Pak John A. Prasetio as a new Independent Commissioner. His vast experience and business acumen as well as his time with the Indonesian Stock Exchange will add significant value to GoTo and we are excited at the prospect of working with him over the coming months.”
In addition, GoTo will seek approval from its independent shareholders for Patrick Sugito Walujo, the Company’s CEO and President Director to become eligible to hold Series B shares so that the Company’s existing management is represented among the holders of Series B shares. As an early investor in the Company, Patrick brings invaluable shareholder perspective to strategic decision-making by the Company and the holders of Series B shares.
The Company has no plan to issue any new Series B shares and as such there would be no dilution to existing shareholders. Any transfer of MVS shares in connection with the foregoing would be conducted as transfers of existing MVS shares among various approved MVS holders.
Further details relating to GoTo’s GMS 2024 agenda can be accessed on the IDX website, eAsy.KSEI and the Company's website.
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About GoTo Group
GoTo is the largest digital ecosystem in Indonesia. GoTo's mission is to ‘empower progress' by offering technology infrastructure and solutions that help everyone to access and thrive in the digital economy. The GoTo ecosystem provides a wide range of services including mobility, food delivery, groceries and logistics, as well as payments, financial services, and technology solutions for merchants. The ecosystem also provides e-commerce services through Tokopedia and banking services through its partnership with Bank Jago.
Contacts:
Media
GoTo Group: corporate.affairs@gotocompany.com
Investors/analysts
GoTo Group: ir@gotocompany.com
