LONDON (Yosefardi) – Asia Resource Minerals Plc (previously Bumi Plc) and Bakrie Group have agreed a further extension to complete the separation transaction.
Asia Resources said it is continuing its discussions with the Bakrie Group in relation to the delay to the completion timetable.
“These discussions are well advanced, but not yet concluded and therefore agreed a further extension to the date by which certain conditions need to be satisfied in order to complete the separation transaction to January 20, 2014,” said Asia Resources on Friday.
Bakrie Group also missed the previous timetable on January 15, which resulted in extension to January 17.
Asia Resource’s shares ended further lower by 2.96% to 221 pence Friday. Earlier in Jakarta, Bumi Resources (BUMI) ended higher by 3.95%.