-Parties present that they together have stated, without
undermining the consent of authorities, have agreed and approved to establish a
limited liability company with articles of association (hereinafter referred to
as “Articles of Association”) as set forth in this deed:
NAME AND DOMICILE (ARTICLE 1)
The limited liability is named “PT. MENTARI
RAMBUANG INTERNATIONAL” (hereinafter referred to as “Company”), domiciled in
South Jakarta;
The company may open branch (es) or
representative office (s) as approved by the Board of Directors of the Company
within the territory of the Republic of Indonesia or outside of the territory
of the Republic of Indonesia.
PERIOD OF ESTABLISHMENT (ARTICLE 2)
The company is established for an unlimited period of time
PURPOSES AND OBJECTIVES (ARTICLE 3)
1
The purpose of the company is
- Oil and Gas
2
To achieve the purposes and objectives abovementioned,
the company reserves the right to conduct the following activities:
-Exploration and drilling, field
development, production, construction of transportation facilities, storage and
procession for separation and refining of oil and gas in the field.
CAPITAL (ARTICLE 4)
1
The principal capital of the Company amounts to
Rp. xxxx ( xxxx hundred million Rupiah) divided into 800 (eight hundred)
shares of nominal value Rp. xxxx (xxxx hundred thousand Rupiah).
2
From the principal capital abovementioned have
been placed and deposited 25% (twenty five percent) or 200 (two hundred) shares
with a total nominal value of Rp. xxxx,- (xxx hundred million Rupiah)
by shareholders that have taken part of the shares with a detailed nominal
shares mentioned in this deed.
3
Shares which are still kept, will be issued
depending on the needs of working capital for the Company, with approval from
General Meeting of Shareholders.
-All shareholders are registered in the
Shareholder Register and have the rights to withdraw part of shares owned
within a period of 14 (fourteen) days from the date of issuance and each
shareholders have the rights to withdraw proportional to the number of shares
each shareholder owned, either to the number of shares owned or to the
remaining shares not taken by other shareholders.
-If after the issuance period of 14
(fourteen) days, there are remaining shares that have not yet been taken
thereby the Board of Directors have the right to offer the remaining shares to
third party.
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