SEOJK Regarding Other Conditions as Significantly Fluctuating Market Conditions in the Implementation of Share Repurchase by Issuers or Public Companies

IV. CLOSING...

To:
The Board of Directors of Issuers and Public Companies at their place.

COPY

CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY NUMBER 1/SEOJK.04/2013

REGARDING

OTHER CONDITIONS AS SIGNIFICANTLY FLUCTUATING MARKET CONDITIONS IN THE IMPLEMENTATION OF SHARE REPURCHASE BY ISSUERS OR PUBLIC COMPANIES

In connection with Financial Services Authority Regulation Number 2/POJK.04/2013 regarding Share Repurchase by Issuers or Public Companies in Significantly Fluctuating Market Conditions, hereinafter referred to as POJK Number 2/POJK.04/2013, it is necessary to regulate other conditions besides those already established in POJK Number 2/POJK.04/2013, in the Circular Letter of the Financial Services Authority as follows:

I. GENERAL PROVISIONS

1. That stock trading conditions on the Indonesia Stock Exchange in the last 3 (three) months have experienced pressure, as reflected by the Jakarta Composite Index of the Indonesia Stock Exchange experiencing a quite significant decline.

2. That economic conditions continue to experience pressure both regionally and nationally.

3. That in order to reduce the impact of significantly fluctuating market conditions as referred to in item 1, ease is needed for Issuers or Public Companies to carry out corporate actions for share repurchase without violating applicable statutory regulations.

4. That based on Article 1 item 1 letter b of POJK Number 2/POJK.04/2013, the Financial Services Authority establishes other conditions as mandated in POJK Number 2/POJK.04/2013.

II. DETERMINATION OF OTHER CONDITIONS AS REFERRED TO IN ARTICLE 1 ITEM 1 LETTER b OF POJK NUMBER 2/POJK.04/2013

Based on the considerations referred to in item I, the decline of the Jakarta Composite Index of the Indonesia Stock Exchange from May 20, 2013, to August 27, 2013, by 1,247.134 points or 23.91% (twenty-three point nine one percent) is established as Other Conditions as referred to in Article 1 item 1 letter b of POJK Number 2/POJK.04/2013.

III. IMPLEMENTATION OF SHARE REPURCHASE BY ISSUERS OR PUBLIC COMPANIES

Issuers or Public Companies may carry out share repurchase based on the mechanisms regulated in POJK Number 2/POJK.04/2013.

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IV. CLOSING

The provisions in this Circular Letter of the Financial Services Authority shall take effect from the date of issuance until the date of revocation of this Circular Letter.

To ensure that everyone knows it, the publication of this Circular Letter of the Financial Services Authority is ordered by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on August 27, 2013

EXECUTIVE HEAD
MARKET REGULATOR,

Signed,
NURHAIDA

Copy matches the original
Head of Legal Assistance Division
Legal Directorate,

Signed,
Mufli Asmawidjaja