Cinema XXI (CNMA) to Distribute Dividends of IDR 666.76 Billion from 2023 Profits

CINEMA XXI - JAKARTA. NEW YORK. PT Nusantara Sejahtera Raya Tbk (CNMA), also known as Cinema XXI, held its Annual General Meeting of Shareholders (AGM) for the fiscal year 2023 on Tuesday, April 2, 2024, in Jakarta. At the AGM, shareholders approved a dividend distribution of IDR 666.76 billion or IDR 8 per share. This dividend value is equivalent to 97% of the net profit attributed to the parent entity's owners in 2023, which amounted to IDR 687.8 billion.

"The distribution of dividends for the fiscal year 2023 is part of our commitment to shareholders following the successful execution of the Initial Public Offering (IPO) in 2023," said Tri Rudy Anitio, the Company Secretary and Finance Director of Cinema XXI, in his official statement in Jakarta on Tuesday (2/4).

Anitio added that CNMA's performance throughout 2023 also demonstrated the company's ability to optimize Indonesia's economic growth potential to strengthen fundamentals and maintain the sustainability of Cinema XXI's business in the long term.

The AGM also reported on the realization of the use of funds from the Company's Initial Public Offering (IPO), which was carried out based on the effective registration statement from the Financial Services Authority on July 25, 2023.

Through this public offering, Cinema XXI raised funds amounting to IDR 2.25 trillion with a net result of IDR 2.17 trillion after deducting public offering costs. By the end of December 2023, Cinema XXI had realized the use of IPO funds amounting to IDR 1.13 trillion. Thus, Cinema XXI still has a remaining IPO fund of IDR 1.05 trillion.

Furthermore, the AGM also approved the proposal to change the composition of the Company's management by appointing Suryo Suherman to replace Ir. Hans Gunadi M.Sc. as President Director and appointing Ongki Wanadjati Dana as Acting Chief Commissioner to replace Suryo Suherman.

The composition of the Company's management is as follows:

Acting Chief Commissioner/Independent Commissioner: Ongki Wanadjati Dana
Commissioner: Melia Suherman
Commissioner: Harris Lasmana
Commissioner: Sacheen Harris Lasmana
Independent Commissioner: Mohammad Noor Rachman Soejoeti
President Director: Suryo Suherman
Director: Arif Suherman
Director: Dody Suhartono
Director: Tri Rudy Anitio

At the AGM, Cinema XXI also approved the Company's Annual Report and ratified the Company's Consolidated Financial Statements for the fiscal year 2023, while fully acquitting and releasing the Board of Directors from responsibility (acquit de charge) for the Company's management actions and the Board of Commissioners for the implementation of the Company's supervision in the fiscal year 2023.

It granted authority to the Board of Commissioners to determine remuneration such as salaries, honorariums, and allowances for the Board of Directors and the Board of Commissioners for the fiscal year 2024.

It also granted authority to the Board of Commissioners to appoint a Public Accountant and Public Accountant Office to audit the Company's Financial Statements for the fiscal year 2024.

For this year, Cinema XXI has prepared a capital expenditure of around IDR 775 billion for business expansion in 2024, including the construction of cinemas and the addition of about 100 screens spread across various cities/regencies in Indonesia in 2024.

"Cinema XXI's strategy will focus on more productive asset and liability management, more varied F&B business development, and the implementation of ESG principles in various business lines to realize our commitment to continuously increase added value," explained Tri Rudy Anitio, the Company Secretary and Finance Director of Cinema XXI.

Anitio expressed his optimism about the development of the entertainment industry in Indonesia, especially the cinema and film sector.
This is supported by the high public interest in watching movies and therefore the potential for growth in the number of cinema screens in Indonesia is still very large.
Cinema XXI is committed to always providing the best and uncompromising viewing experience at affordable prices for all Indonesian people.

Editor: Syamsul Azhar