EMAS Forgoes Dividend and Restructures Management

Jakarta, CNBC Indonesia — PT Merdeka Gold Resources Tbk (EMAS) has decided not to distribute dividends and agreed to restructure its management. These decisions were approved at the Annual General Meeting of Shareholders (AGMS) on 22 April 2026.

The AGMS approved the appointment of three director candidates and five commissioner candidates. In a press release, EMAS stated that this management change is part of efforts to strengthen the company’s management structure and governance by adopting global mining industry standards, particularly in project execution, risk management, financial discipline, and transparency to investors.

The three approved directors possess a combination of technical, operational, and financial experience in the development and management of mining assets. They include Nicholas John Green, Barend Johannes Nicolaas Knoetze, and Suryadinata Tanu.

Additionally, EMAS approved the appointment of five new commissioners, including three independent commissioners. They are Winato Kartono, Xinyu Wang, Jona Widhagdo Putri (Independent Commissioner), John Mackay McCulloch Williamson (Independent Commissioner), and Yu Gao (Independent Commissioner).

The AGMS also approved the resignation of three board members: Albert Saputro, David Thomas Fowler, and Adi Adriansyah Sjoekri. The three will refocus on strategic responsibilities within the Group of PT Merdeka Copper Gold Tbk (MDKA), the parent company of EMAS.