LONDON (Yosefardi) – Shareholders of Bumi plc had on Tuesday (Dec 17) agreed the separation of Bumi Plc with Bakrie Group, then Bumi Plc’s shares will shortly commence trading under the new name Asia Resource Minerals plc (LSE: ARMS).
The Company now looks forward to the opportunity to make a fresh start under a new name and with a near term focus on creating value through the development of its coal mining activities at Berau with thermal coal resources of 23 million tons.
The separation is targeted to complete by end January next year, and Bumi Plc will return fund of US$400 million to shareholders and will installed new management.