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DISCLOSURE OF INFORMATION TO SHAREHOLDERS IN RELATION TO
THE PROPOSED QUASI REORGANIZATION
(“INFORMATION TO SHAREHOLDERS”)
THIS INFORMATION TO SHAREHOLDERS IS IMPORTANT TO BE
CONSIDERED BY SHAREHOLDERS OF
PT BUMI RESOURCES TBK ( “COMPANY”)
If you have any difficulty in understanding this Information to Shareholders or are in doubt in making a decision, you should consult
with a securities broker, investment manager, legal consultant, accountant or other professional advisors.
PT BUMI RESOURCES Tbk
Main Business Activities
Holding company in coal and mineral mining
HEAD OFFICE:
Bakrie Tower, 12th floor - Rasuna Epicentrum
Jl. H.R. Rasuna Said - Jakarta 12940 – Indonesia
Phone: (62-21) 5794 – 2080
Fax.: (62-21) 5794 – 2070
Web: www.bumiresources.com
E-mail: corsec@bumiresources.com
In connection with the provisions stipulated in the Regulation of Capital Market and Financial Institutions Supervisory Agency No.
IX.L.1. regarding Quasi Reorganization as attached in the Head of the Capital Market and Financial Institutions Supervisory Agency
Decree No. KEP-718/BL/2012 (“Regulation IX.L.1”), the Company intends to conduct a quasi reorganization in accordance with the
Regulation IX.L.1 (“Proposed Quasi Reorganization”).
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1. PRELIMINARY
In order to give a true description of the Company’s financial position and due to the fact that the Company is strong-willed in its
intention to maintain its going concern status and to continue to develop well in the future, the Company intends to conduct the
Proposed Quasi Reorganization using its consolidated statement of financial position as of 31 December 2024.
The Company submits the information as contained herein as fulfillment of the requirements set forth under the Regulation IX.L.1
and Regulation of Financial Services Authority No. 31/POJK.04/2015 regarding Disclosure of Information or Material Facts by Issuers
or Public Companies (as partially amended based on Regulation of Financial Services Authority Number 45 of 2024 regarding
Development and Strengthening of Issuers and Public Companies) and the applicable law and regulations.
In connection with the above, the Company intends to seek approval from its shareholders at an Extraordinary General Meeting of
Shareholders (“EGMS”) to conduct the Proposed Quasi Reorganization.
2. BRIEF DESCRIPTION OF THE COMPANY
A. Brief History
The Company was first established under the name PT Bumi Modern, domiciled in Jakarta, based on the Deed of Establishment
of Limited Liability Company PT. Bumi Modern No. 130 dated 26 June 1973 made before Djojo Muljadi, S.H., Notary in
Surabaya, which has obtained the Decree of the Minister of Law and Justice of the Republic of Indonesia No. Y.A.5 /433/12
on the Ratification of the Establishment of the Company PT. Bumi Modern dated 12 December 1973, which has been registered
in the Register Book of Surabaya District Court No. 1824/1973 dated 27 December 1973, and announced in BNRI No. 1 of
1974, TBNRI No. 7/1974 dated 2 January 1974 (“Deed of Establishment”).
The Company previously named PT Bumi Modern has changed its name to PT Bumi Resources Tbk based on the Deed of
Meeting Resolution No. 18 dated 5 July 2000 made before Sutjipto, S.H., Notary in Jakarta, which has been approved by the
Minister of Law and Regulations of the Republic of Indonesia based on Decree No. C-21041 HT.01.04-TH.2000 dated 20
September 2000. The Company's articles of association as contained in the Company's Deed of Establishment have been
amended several times as lastly amended based on the Deed of Resolution of the Company's Meeting No. 110 dated 19
December 2024, made before Humberg Lie, S.H., S.E., M.Kn., Notary in North Jakarta, which has been notified to the Minister
of Law of Republic Indonesia based on the Notification Receipt of the Change of Articles of Association No. AHU-AH.01. .03-
0227434 dated 24 December 2024, has been registered in the Company Register No. AHU-0282477.AH.01.11.Tahun 2024
dated 24 December 2024, in which the shareholders of the Company approved the amendment to Article 4 paragraph 2
regarding the issued and fully paid-up capital of the Company (“Company Deed No. 110/2024”).
(the Deed of Establishment of the Company and all amendments thereto, including Company Deed No. 110/2024 hereinafter
collectively referred to as the “Articles of Association of the Company”).
B. Capital Structure and Shareholder Composition
The capital structure and shareholders' composition of the Company as of the date of this Information to Shareholders are as
follows:
Nominal Value
Series A Rp500,- / share
Percentage
Description Series B Rp100,- / share
(%)
Series C Rp50,- / share
Total Shares (share) Total Nominal Value (Rp)
Authorized Capital 534,538,053,993 38,750,000,000,000
Series A 20,773,400,000 10,386,700,000,000
Series B 53,501,346,007 5.350.134.600.700
Series C 460,263,307,986 23,013,165,399,300
Issued and Fully Paid-up Capital
Mach Energy (Hongkong) Limited 170,000,000,000 8,500,000,000,000 45.78
Treasure Global Investments Limited 30,000,000,000 1,500,000,000,000 8.08
HSBC-FUND SVS A/C Chengdong 38,594,882,530 not available 10.39
Investment Corp-Self
Public ownership under 5% 132,740,509,538 not available 35.75
Total Issued and Fully Paid-up 371,335,392,068 30,589,866,903,750 100.00
Capital
Unissued Shares 163,202,661,925 8,160,133,096,250 -
C. Management and Supervision of the Company
The Company’s Board of Commissioners and Board of Directors composition as of the date of this Information to Shareholders
is as follows:
Information to Shareholders 2
Page 3
Board of Commissioners
President Commissioner/Independent Commissioner : Sharif Cicip Sutardjo
Independent Commissioner : Anton Setianto Soedarsono
Independent Commissioner : Kanaka Puradiredja
Independent Commissioner : Y.A. Didik Cahyanto
Independent Commissioner : Anggawira
Commissioner : Adhika Andrayudha Bakrie
Commissioner : Thomas Myer Kearney
Commissioner : Jinping Ma
Commissioner : Ben Niu*
Board of Directors
President Director : Adika Nuraga Bakrie
Vice President Director : Agoes Projosasmito
Director : Andrew Christopher Beckham
Director : R.A. Sri Dharmayanti
Director : Yingbin Ian He
Director : Maringan MIH Hutabarat
Director : Nalinkant Amratlal Rathod
Director : Rio Supin
Director : Ashok Mitra
Director : Adrian Wicaksono
Director : Phiong Phillipus Darma
Director : Eddy Sanusi
Director : Himawan Setiadi
Director : Dileep Srivastava**
Director : Jian Wang*
*Note: Jian Wang and Ben Niu have submitted their resignations based on their respective Resignation Letters dated 24 November 2024,
whereby the resignation of Jian Wang as a director and Ben Niu as a commissioner of the Company will only be effective upon approval at the
General Meeting of Shareholders.
**Note: On 8 February 2025, the Company was informed that Dileep Srivastava passed away. In accordance with the Articles of Association of
the Company, the term of the relevant member of the Board of Directors shall automatically expire.
3. INFORMATION ABOUT PROPOSED QUASI REORGANIZATION
A. Reason and Objective
Some of the benefits from the Proposed Quasi Reorganization for the Company, among others are:
1. Provide a true description of the Company’s current and future financial position. The Company is expected to continue
its business with a fresh start, with the current financial position and without being burdened by the past deficits.
2. Improving the Company’s equity structure by eliminating accumulated losses (deficit) by using the balance of share
premium which is the paid-in capital in excess of the par value of shares.
3. With no deficit balance, it will have a positive impact for the shareholders because the Company may distribute dividends
under the applicable regulations, so that it will increase the interest and attractiveness for investors to invest in the
Company.
4. With a financial position that is not burdened by past deficits, the Company is expected to find it easier to obtain funding
for business development.
5. To increase share trading liquidity, investment value for investors, and the value of the Company.
B. Proposed Quasi Reorganization Requirements
The Company has complied with the provisions of the Regulation IX.L.1 related to the Company's Proposed Quasi
Reorganization as mentioned above and as described in the table below:
Financial Year as of 31 December
Descriptions
2024 2023 2022
Revenues 1,359,679,473 1,679,948,765 1,830,079,927
Cost of Revenues (1,190,389,426) (1,542,653,836) (1,459,438,981)
Information to Shareholders 3
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Gross Profit 169,290,047 137,294,929 370,640,946
Operating Expenses (108,222,029) (80,482,691) (147,277,732)
Operating Profit 61,068,018 56,812,238 223,363,214
90,133,364 26,900,967 556,664,506
Profit for the Year
Average Profit for the Years (last 3 years) 224,566,279
Capital Stock - Issued and Fully Paid 2,932,454,440 2,932,398,954 2,932,398,848
Deficit per Year 2,283,760,753 2,351,238,832 2,362,162,282
There are material accumulated losses (deficits) in the
audited annual financial statements for the last 3
(three) years. Accumulated loss (deficit) is considered
material if the absolute value of the accumulated loss
(deficit) is more than:
78% 80% 81%
a. 60% (sixty percent) of the paid-up capital; and
b. 10 (ten) times the average current annual profit 10.17 x 10.47 x 10.52 x
In addition, the Company also shows a trend of improving financial performance from year to year. This can be seen from
the increase in gross profit of 23% from previously USD137 million in 2023 to USD169 million in 2024. The Company's gross
profit decreased when compared to 2022 because in that year there was a significant increase in global coal prices as a result
of the imbalance in coal supply/demand and the impact of the Russia-Ukraine war.
This positive performance trend can also be seen from the increase in the Company's operating profit from USD56.8 million
in 2023 to USD61 million in 2024.
In October 2022, the Company has repaid of its entire Suspension of Debt Payment Obligation’s debt (Penundaan Kewajiban
Pembayaran Utang or “PKPU”) (“PKPU Debt”) through a Capital Increase Without Preemptive Rights (Peningkatan Modal
Tanpa Hak untuk Memesan Efek Terlebih Dahulu or “PMTHMETD”) worth USD1.6 billion or equivalent to IDR24 trillion. With
the repayment of this PKPU Debt, the Company became a debt-free company and has no longer any burden of interest that
was previously paid to creditors of the PKPU Debt since December 2017.
In the 2022 period, the Company had a profit for the year of USD556.6 million, due to a significant increase in global coal
prices as a result of the imbalance in coal supply/demand and the impact of the Russia-Ukraine war. The profit for the year
then decreased to USD26.9 million in 2023 and then jumped again by 235% to USD90 million in 2024. 3 (three) years average
of the Company’s profit for the year is USD224.6 million.
Furthermore, the Company has good prospects, proven by the positive operating profit in the audited annual financial
statements for 3 (three) consecutive years.
C. Information on the Proposed Quasi Reorganization
The Company intends to conduct the Proposed Quasi Reorganization by eliminating accumulated losses (deficits) using the
balance of share premium which is the excess of paid-in capital over the par value of shares. Therefore, as the next step, the
Company will restructure the capital through the Proposed Quasi Reorganization, by eliminating the accumulated loss (deficit)
using the balance of the share premium.
D. Key Financial Highlights
A summary of the audited consolidated annual financial statements and annual income statement comprehensive for the
years ended of 31 December 2024, 31 December 2023 and 31 December 2022 are as follows:
PT BUMI RESOURCES Tbk and ITS SUBSIDIARIES
Consolidated Statements of Financial Position
As of December 31, 2024, 2023 and 2022
(In Full USD, unless otherwise stated)
31 December 2024 31 December 2023 31 December 2022
ASSETS
Current Assets 772,663,660 704,716,702 772,731,911
Non-Current Assets 3,390,737,417 3,497,977,514 3,715,315,058
TOTAL ASSETS 4,163,401,077 4,202,694,216 4,488,046,969
LIABILITIES AND EQUITY
Current Liabilities 768,495,062 785,003,347 758,585,761
Non-Current Liabilities 530,661,657 642,914,788 910,952,946
Information to Shareholders 4
Page 5
TOTAL LIABILITIES 1,299,156,719 1,427,918,135 1,669,538,707
EQUITY 2,864,244,358 2,774,776,081 2,818,508,262
TOTAL LIABILITIES AND EQUITY 4,163,401,077 4,202,694,216 4,488,046,969
PT BUMI RESOURCES Tbk and ITS SUBSIDIARIES
Consolidated Statements of Profit or Loss and Other Comprehensive Income
For the Years Ended December 31, 2024, 2023 and 2022
(In Full USD, unless otherwise stated)
31 December 2024 31 December 2023 31 December 2022
REVENUES 1,359,679,473 1,679,948,765 1,830,079,927
COST OF REVENUES (1,190,389,426) (1,542,653,836) (1,459,438,981)
GROSS PROFIT 169,290,047 137,294,929 370,640,946
OPERATING EXPENSES (108,222,029) (80,482,691) (147,277,732)
OPERATING PROFIT 61,068,018 56,812,238 223,363,214
OTHER INCOME - NET 60,833,202 25,537,976 470,781,694
PROFIT BEFORE INCOME TAX 121,901,220 82,350,214 694,144,908
INCOME TAX EXPENSES (28,222,308) (49,924,476) (115,590,243)
PROFIT AFTER INCOME TAX 93,678,912 32,425,738 578,554,665
PROFIT SHARING (3,545,548) (5,524,771) (21,890,159)
PROFIT FOR THE YEAR - NET 90,133,364 26,900,967 556,664,506
Profit for the Year Attributable To:
Owners of the Parent Entity 67,478,079 10,923,450 525,274,341
Non-Controlling Interests 22,655,285 15,977,517 31,390,165
90,133,364 26,900,967 556,664,506
Total Comprehensive Income For the Year
Attributable to:
Owners of the Parent Entity 66,890,938 7,268,244 524,940,964
Non-Controlling Interests 22,577,339 15,890,041 31,815,882
89,468,277 23,158,285 556,756,846
0.18 0.03 3.14
BASIC/DILUTED INCOME PER 1,000 SHARES
PT BUMI RESOURCES Tbk and SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2024, 2023 and 2022
(In Full USD, unless otherwise stated)
31 December 2024 31 December 2023 31 December 2022
NET CASH FLOWS USED IN OPERATING (5,108,137) (115,869,699) (593,650,955)
ACTIVITIES
NET CASH FLOWS (USED IN)/ PROVIDED BY (48,494,233) 42,044,593 (211,946,579)
INVESTING ACTIVITIES
NET CASH FLOWS PROVIDED BY FINANCING 29,729,475 82,838,917 652,790,049
ACTIVITIES
NET (DECREASE) INCREASE IN CASH AND (23,872,895) 9,013,811 (152,807,485)
CASH EQUIVALENT
EFFECT OF FOREIGN EXCHANGE RATE ON (439,105) (14,104) (364,733)
CASH AND CASH EQUIVALENT
CASH AND CASH EQUIVALENT AT BEGINNING 76,806,887 67,807,180 220,979,398
OF THE YEAR
CASH AND CASH EQUIVALENT AT THE END OF 52,494,887 76,806,887 67,807,180
THE YEAR
Information to Shareholders 5
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E. Management Discussion and Analysis
The Company started to have a negative position in its retained earnings in 2012 amounting to USD433.0 million which was
mainly due to the current year loss of USD705.6 million. Significant transactions that caused the loss for the year for this year
(2012) were interest expenses of USD620.5 million related to the Company’s Loan, and loss on derivative transactions of
USD344.9 million.
The position of retained earnings continued to decrease until it reached the lowest point in 2015, which negative USD3,357.1
million due to the Company's loss in that period. As previously, interest expense was a significant factor in the Company's
losses in this period. In addition, several non-cash transactions, such as the impairment of some of the Company's assets,
losses on derivative transactions and book losses on the sale of subsidiaries also affected the Company's profit position.
The Company through all levels of its management, has strived to improve its retained earnings position and obtain positive
current year profit by preparing the most appropriate PKPU restructuring structure in accordance with the Company's
conditions that can be implemented at that time, as well as carrying out strict cashflow management policies while carrying
out efficiency programs in the Company and its subsidiaries.
Since 2016, the Company began to record a positive current year profit position except only in 2020 where the Company
recorded a loss. As explained above, the main factor of the loss was mainly caused by the interest expense of the PKPU
Debts, that had been repaid in October 2022, and there were non-cash and non-operational adjustments to prior year
transactions and non-recurring transactions in the form of depreciation of some the Company's assets. The positive position
of profit for the year 2016 to 2022 with a total reaching USD1 billion, made the Company's retained earnings position move
from negative USD3,357.1 million in 2015 to negative USD2,362.2 million in 2022.
With the repayment of the PKPU Debt in October 2022, interest expense which was the largest portion that affected the
Company's profit, will no longer be the Company's burden in the future (please refer to the above information). In addition,
the high coal prices improve the Company's prospects in the future which will keep the Company's retained earnings position
positive so that the Company has the ability, subject to its shareholders’ approval, to distribute dividends to its shareholders
this year.
In order to pay a dividend, the Company will restructure its capital through the Proposed Quasi Reorganization, by eliminating
the accumulated retained earnings loss (deficit) using the balance of share premium.
For additional information, the additional purpose of the Proposed Quasi Reorganization is to improve retained earnings of
the Company so that the Company can distribute cash dividends to the shareholders of the Company. Moreover, if the
Proposed Quasi Reorganization is not carried out at this time, it will be difficult for the Company to distribute dividends in the
near future, even though the Company has good financial prospects.
F. Information Regarding the Company’s Business Plan to Improve Future Financial Performance
Poised for Sustainable Growth
As one of the largest mining companies in Indonesia, the Company in carrying out its business activities, and consistently
manages the environment and uses of natural resources in a proper and wise manner. The Company also continues to
innovate in the application of environmentally friendly technology.
With its experience, the Company also ensures that the operational activities carried out can provide equitable and sustainable
social benefits for the surrounding community, such as providing employment opportunities and helping to improve
community welfare. Through various efforts, the Company is ready to meet the challenges ahead with confidence and
optimism to create sustainable growth and strengthen its position as a socially and environmentally responsible company.
The Company strongly believes that the coal industry will continue to grow in the foreseeable future. The Company is
optimistic that over the next 5 to 10 years, coal demand will still be higher than global supply given the renewable energy
sources are still limited to replace coal. These factors are believed to keep coal prices high in the medium term.
Indonesia’s coal production target in 2025 is 735 million tons, increase by 3.52% from the 2024 target of 710 million tons,
with domestic demand contributing 230 million tons and export 505 million tons. Coal prices are expected to remain attractive
in 2025 due to the predicted global energy balance, which still needs coal as one of the alternative energy sources.
The Company through its subsidiaries produces coal, namely PT Kaltim Prima Coal and PT Arutmin Indonesia. They have a
total Joint Ore Reserves Committee (“JORC”) coal reserves of more than 987 million tons and JORC coal resources of more
than 4,395 million tons and a production capacity of 90 million tons per year combined. Assuming coal prices are approximately
the same as current coal price conditions, it is estimated that the Company's revenue will remain high in the foreseeable
future.
With the repayment of PKPU Debt in October 2022, the Company currently does not have a large interest expense, which has
reduced the Company’s expenses significantly. In addition, the Company is planning to diversify its operations and reduce its
operational costs through efficiency and digitalization program.
Information to Shareholders 6
Page 7
G. Positive Impact of Quasi Reorganization
The positive impact of the implementation of the Proposed Quasi Reorganization on the Company's equity position is that the
Company can start a new beginning by showing a better financial position without being burdened by deficits.
The proforma consolidated statement of financial position of the Quasi Reorganization as of 31 December 2024 before and
after the Proposed Quasi Reorganization which has been reviewed by Public Accountant Firm of Amir Abadi Jusuf, Aryanto,
Mawar & Rekan, engagement in accordance with Standard on Assurance Engagements (SPA) 3000 (2022 Revision),
“Assurance Engagements other than Audits or Reviews of Historical Financial Information” by the Indonesian Institute of
Certified Public Accountants through Report No. R/0006.ARC/TLG/2025 dated 21 April 2025 is as follows:
(in full USD)
31 December 2024
Before After
Consolidated Statements Implementation Implementation
of Financial Position of Quasi of Quasi
Reorganization Reorganization
(Audited) (Pro forma)
Assets
Current Assets
Cash and cash equivalents 52,494,887 52,494,887
Restricted cash in bank 98,593,928 98,593,928
Trade receivables
Third parties 112,429,005 112,429,005
Related parties 1,395,131 1,395,131
Other receivables
Third parties 5,303,434 5,303,434
Inventories 40,893,683 40,893,683
Prepaid taxes 13,398,619 13,398,619
Tax recoverable 74,372,655 74,372,655
Prepaid expenses 6,510,563 6,510,563
Other receivables Related parties 75,800,667 75,800,667
Other current assets 291,471,088 291,471,088
Total Current Assets 772,663,660 772,663,660
Non-Current Assets
Due from related parties 82,136,740 82,136,740
Deferred tax assets 119,953,613 119,953,613
Investment in associates and joint ventures 965,646,184 965,646,184
Fixed assets 225,080,199 225,080,199
Mining properties 1,558,973,886 1,558,973,886
Exploration and evaluation assets 130,413,215 130,413,215
Right-of-use assets 132,230,482 132,230,482
Goodwill - net 48,412,144 48,412,144
Other non-current assets
Third parties 127,842,473 127,842,473
Related parties 48,481 48,481
Total Non-Current Assets 3,390,737,417 3,390,737,417
Total Assets 4,163,401,077 4,163,401,077
Liabilities and Equity
Current Liabilities
Short-term loan 137,200,115 137,200,115
Trade payables
Third parties 92,345,928 92,345,928
Related parties 121,374,240 121,374,240
Other payables
Third parties 51,916,895 51,916,895
Due to government 11,971,462 11,971,462
Accrued expenses 271,548,480 271,548,480
Taxes payable 18,984,085 18,984,085
Current maturities of long-term liabilities
Long-term loans 36,495,685 36,495,685
Estimated liability for restoration and 12,692,917 12,692,917
rehabilitation
Lease liabilities 13,965,255 13,965,255
Total Current Liabilities 768,495,062 768,495,062
Non-Current Liabilities
Due to related parties 162,471,671 162,471,671
Other payables - net of current maturities 39,861,750 39,861,750
Information to Shareholders 7
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Employment benefit liabilities 13,681,123 13,681,123
Long-term liabilities - net of Current maturities:
Long-term loan 6,477,950 6,477,950
Estimated liability for restoration and 189,903,934 189,903,934
rehabilitation
Lease liabilities 118,265,229 118,265,229
Total Non-Current Liabilities 530,661,657 530,661,657
Total Liabilities 1,299,156,719 1,299,156,719
Equity
Capital stock 2,932,454,440 2,932,454,440
Additional paid-in capital
3,283,284,108 999,523,355
Share premium
Differences between Assets and Liabilities of 2,908,135 2,908,135
Tax Amnesty
Difference in Value from Transaction with (1,233,700,656) (1,233,700,656)
Entities under Common Control
Difference in the change in equity transaction of (764,455,360) (764,455,360)
a subsidiary/associate
Difference in the change in equity transaction in (306,833,020) (306,833,020)
joint ventures
Other capital reserves (19,869,004) (19,869,004)
Deficits (2,283,760,753) 0
Total equity attributable to the owners of the 1,610,027,890 1,610,027,890
parent entity
Non-controlling interests 1,254,216,468 1,254,216,468
Equity – net 2,864,244,358 2,864,244,358
Total Liabilities and Equity 4,163,401,077 4,163,401,077
H. Accountants’ Conclusion in Connection with the Independent Limited Assurance Engagement on Pro Forma
Consolidated Statement of Financial Position
KAP Amir Abadi Jusuf, Aryanto, Mawar & Rekan in Report No. R/0006.ARC/TLG/2025 dated 21 April 2025 regarding the
Independent Limited Assurance Report on Pro Forma Consolidated Statement of Financial Position of the Company and its
subsidiaries as of December 31, 2024 concluded that based on the procedures the accountants have performed and the
evidence the accountants have obtained, nothing has come to accountants’ attention that causes the accountants to believe,
in all material respects, that the Group’s pro forma consolidated statement of financial position as of December 31, 2024 is
prepared not in accordance with Regulation No. IX.L.1, which is an Appendix to the Chairman of Bapepam-LK Decision No.
KEP-718/BL/2012 dated December 28, 2012 regarding Quasi Reorganization.
I. Accountants’ Conclusion Regarding the Compliance of Application of Procedures and Provisions on the
Implementation of the Quasi Reorganization Plan
KAP Amir Abadi Jusuf, Aryanto, Mawar dan Rekan in Report No. R/0007.ARC/TLG/2025 dated 21 April 2025 regarding the
Independent Limited Assurance Report in connection with plan to conduct Quasi Reorganization of the Company and its
subsidiaries as of December 31, 2024, concluded that based on the procedures the accountants have performed and the
evidence the accountants have obtained, nothing has come to the accountants’ attention that causes the accountants to
believe, in all material respects, that the application of procedures and provisions of Quasi Reorganization of the Company
and its subsidiaries as of December 31, 2024, are not in compliance with Regulation No. IX.L.1, which is an Appendix to the
Chairman of Bapepam-LK Decision No. KEP-718/BL/2012 dated December 28, 2012 regarding Quasi Reorganization.
4. EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS
In connection with the Proposed Quasi Reorganization as described in this Information to Shareholders, the Company intends to seek
approval from the Company’s shareholders at the EGMS which will be held on 2 June 2025 with due observance of the provisions
stipulated in the Articles of Association of the Company.
For information, important dates that need to be considered concerning the holding of the Company's EGMS are as listed in the
following schedule table:
EVENT DATE
Notification to the Financial Services Authority regarding the EGMS agenda 14 April 2025
Disclosure of Information to Shareholders regarding the Proposed Quasi Reorganization 22 April 2025
Announcement of EGMS on eASY.KSEI, Indonesia Stock Exchange and the Company's websites 22 April 2025
Recording Date of the Company's Shareholder Register 6 May 2025
Invitation to the EGMS on eASY.KSEI, the Indonesia Stock Exchange and the Company's websites 7 May 2025
EGMS 2 June 2025
Information to Shareholders 8
Page 9
5. RECOMMENDATION OF THE BOARD OF DIRECTORS AND BOARD OF COMMISSIONERS OF THE COMPANY
The Board of Directors and Board of Commissioners of the Company recommend that all shareholders approve the Proposed Quasi
Reorganization as mentioned in this Information to Shareholders. In providing such a recommendation to the shareholders, the Board
of Directors and Board of Commissioners of the Company have reviewed the benefits of the Proposed Quasi Reorganization, and
therefore believe that the implementation of the Proposed Quasi Reorganization is the best option for the Company and all
shareholders.
6. ADDITIONAL INFORMATION
The shareholders who wish to obtain other information in relation to the Proposed Quasi Reorganization, may contact the Company
during business hours (8.00 am to 4.00 pm Western Indonesia Time) on business days at the Company’s office at the following
address:
Bakrie Tower, 12th Floor- Rasuna Epicentrum
Jl. H.R. Rasuna Said - Jakarta 12940 – Indonesia
Phone: (62-21) 5794 – 2080
Fax: (62-21) 5794 – 2070
Web: www.bumiresources.com
E-mail: corsec@bumiresources.com
Jakarta, 22 April 2025
Board of Directors of the Company
Information to Shareholders 9
Names mentioned 37 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Financial Services Authority
p.2 ×3
unresolved
person
Djojo Muljadi
· Notaris
p.2
unresolved
org
Minister of Law and Justice
p.2
unresolved
org
Surabaya District Court
p.2
unresolved
person
Sutjipto
· Notaris
p.2
unresolved
org
Minister of Law and Regulations
p.2
unresolved
person
Humberg Lie
· Notaris
p.2
unresolved
org
Mach Energy (Hongkong
p.2
unresolved
org
PT Kaltim Prima Coal
p.6
unresolved
org
PT Arutmin Indonesia. They
p.6
unresolved
org
Mawar & Rekan
p.7 ×2
unresolved
org
Bapepam-LK
p.8 ×4
unresolved
org
Mawar dan Rekan
p.8
unresolved
org
Indonesia Stock Exchange
p.8 ×2
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