The Government of Indonesia has one Series A shares that has special voting rights. Series A shares have the same rights and restrictions with the Series B Shares (the Common Shares), except that the Series A Shares are not transferable, have special privileges in terms of changes in capital, the appointment and dismissal of members of the Board of Directors and Commissioners, Budget, association, merger and takeover and dismissal and liquidation of the Company. The share owned by Government of the Republic of Indonesia is 65% and public 35%.
Tin Stock Price
The company carried out a stock split on August 8, 2008 with the ratio of 1:10 to increase the liquidity of stock at stock market. PT TIMAH nominal price of shares then increased from Rp 50 to Rp 500 per share. Currently, Government of the Republic of Indonesia is the major stock owner, with an ownership by 65% and the rest of 35% which belongs to public traded on stock exchange floor. On May 7, 2014, the Company distributed stock bonuses from share premium capitalization which resulted in the increasing shares outstanding from 5.033.019.999 to 7.447.753.454.
One of tin prices used as the reference in the world tin trade established in the London Metal Exchange is the LME (London Metal Exchange). The tin price rate is highly influenced by the supply. Therefore, the decrease in tin supply would result in the rise of tin price and vice-versa. In addition, the tin price is also influenced by the speculation of market participants (traders) as well as the world economic situation. Currently tin transaction conducted in Indonesian Commodity & Derivative Exchange (ICDX) located in Jakarta, Indonesia. Indonesia is expected to be the World Tin Price setter in 2015.