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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 (the “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
Engaged in wholesale trading, head office activities headquarters,
and other management consulting as well as
through its subsidiaries conducts activities in petroleum,
coal, and mineral mining
HEAD OFFICE:
Bakrie Tower, 12th floor - Rasuna Epicentrum
Jl. H.R. Rasuna Said, South Jakarta – 12940, Indonesia
Phone: (62-21) 57942080
Fax.: (62-21) 57942070
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 (“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 the Company has a strong confidence to maintain its going
concern status and to continue to develop well in the future. Therefore, the Company intends to conduct the Proposed Quasi
Reorganization using its consolidated statement of financial position as of 31 December 2023.
The Company submits the information as contained hereinas fulfillment of the requirements set forth in the Regulation IX.L.1 and
the Regulation of Financial Services Authority No. 31/POJK.04/2015 regarding Information Disclosure of Information or Material Facts
by Issuers or Public Companies.
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 duly established under the laws of the Republic of Indonesia by Notarial Deed No. 130 dated 26 June
1973, as amended by Deed of Amendment to the Articles of Association, No. 103, dated 28 November 1973, both made
before Djoko Soepadmo, S.H. and was validly incorporated as a legal entity since 12 December 1973, based on the
authorization of the Minister of Justice of the Republic of Indonesia by Decree No. Y.A.5/433/12, dated 12 December 1973.
The Company's Articles of Association have been amended several times, with the most recently based on the approval of
the Company's shareholders as outlined in Deed of Meeting Resolution No. 35 dated 15 March 2023, made before Humberg
Lie, S.H., SE., M.Kn., Notary in Jakarta, which changed the Company's capital structure.
B. Capital Structure and Shareholder Composition
The composition of the shareholders of the Company as of 3 April 2024 is as follows:
Nominal value of Series A Shares
Rp500 per share
Nominal value of Series B Shares
Rp100 per share
Nominal value of Series C Shares
Rp50 per share
Number of Shares % Nominal Value (Rp)
Authorized capital
Series A Share 20,773,400,000 3.89% 10,386,700,000,000
Series B Share 53,501,346,007 10.01% 5,350,134,600,700
Series C Share 460,263,307,986 86.10% 23,013,165,399,300
Total 534,538,053,993 100.00% 38,750,000,000,000
Issued and Fully Paid Capital
Series A Share 20,773,400,000 5.59% 10,386,700,000,000
Series B Share 53,501,346,007 14.41% 5,350,134,600,700
Series C Share 297,045,959,017 80.00% 14,852,297,950,850
Total 371,320,705,024 100.00% 30,589,132,551,550
Shareholder List
1 Mach Energy (Hongkong) Limited 170,000,000,000 45.78% Data not available
2 HSBC-Fund SVS A/C Chengdong Investment Corp-Self 39,653,936,330 10.68% Data not available
3 Treasure Global Investments Limited 30,000,000,000 8.08% Data not available
4 NBS CLIENTS 14,641,438,444 3.94% Data not available
5 UBS SWITZERLAND AG-CLIENT ASSETS -2049584001 10,145,978,606 2.73% Data not available
6 Public 106,879,351,644 28.79% Data not available
Total 371,320,705,024 100.00% 30,589,132,551,550
Unissued Shares
Series A Share - - -
Series B Share - - -
Series C Share 163,217,348,969 100.00% 8,160,867,448,450
C. Management and Supervision of the Company
Based on the Deed of Meeting Resolution No. 109 dated 30 June 2023, made before Humberg Lie, S.H., SE., M.Kn., Notary
in Jakarta, having been received by the Ministry of Law and Human Rights based on Receipt of Notification No. AHU-AH.01.09-
0138266 dated 11 July 2023, the composition of the Board of Commissioners and Board of Directors of the Company is as
follows:
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
Information to Shareholders 2
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Commissioner : Jinping Ma
Commissioner : Thomas M. Kearney
Board of Directors
President Director : Adika Nuraga Bakrie
Vice President Director : Agoes Projosasmito
Director : Adrian Wicaksono
Director : Phiong Phillipus Darma
Director : Eddy Sanusi
Director : Nalinkant A. Rathod
Independent Director & Corporate Secretary : Dileep Srivastava
Director : Andrew Christopher Beckham
Director : R.A. Sri Dharmayanti
Director : Ashok Mitra
Director : Maringan M. Ido Hotna Hutabarat
Director : Rio Supin
Director : Jian Wang
Director : Yingbin Ian He
Director : Himawan Setiadi
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 financial position both now and in the future. 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 can 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 not being 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. 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 described in the table below and other matters as mentioned in this Information to Shareholders:
Financial Year as of 31 December
Descriptions
2023 2022 2021
Revenues 1,679,948,765 1,830,079,927 1,008,212,975
Cost of Revenues (1,542,653,836) (1,459,438,981) (806,476,329)
Gross Profit 137,294,929 370,640,946 201,736,646
Operating Expenses (80,482,691) (147,277,732) (77,876,631)
Operating Income 56,812,238 223,363,214 123,860,015
Profit for the Year Attributable to Owners of
10,923,450 525,274,341 168,018,153
the Parent Entity
3 years Average Profit for the Year
234,738,648
Attributable to Owners of the Parent Entity
Capital Stock - Issued and Fully Paid 2,932,398,954 1,899,106,073
2,932,398,848
Deficit 2,351,238,832 2,362,162,282 2,887,436,623
Information to Shareholders 3
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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:
a. 60% (sixty percent) of the paid-up
80.18% 80.55% 152.04%
capital; and
b. 10 (ten) times the average current
Profit for the Year Attributable to 10.02 x 10.06 x 12.30 x
Owners of the Parent Entity
The Company continues to make profits over the last 3 years, despite highly volatile coal prices. This can be seen from the
increase in revenue from USD1,008.2 million in 2021 to USD1,830.1 million in 2022 or an increase of 82%. The increase in
the Company's income was mainly due to the increase in the global coal prices, which was caused by a coal supply/demand
imbalance and as a result of the Russia-Ukraine war. Revenues only dropped by 8.2% in 2023 despite prices falling by 33%
from 2022.
In October 2022, the Company announced the repayment of its entire Suspension of Debt Payment Obligation debt (“PKPU”)
(“PKPU Debt”) through a Capital Increase via a Non-Preemptive Rights Issuance (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 or debt that was previously paid to creditors of the PKPU debt since December 2017.
The 3-Year Average of Current Year Profit Attributable to Owners of the Parent Entity was USD234.7m.
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) by using the
the balance of share premium which is the paid-in capital in excess of the par value of shares. Therefore, as the next step,
the Company will restructure the capital through the Proposed Quasi Reorganization, by eliminating accumulated loss (deficit)
by the balance of share premium.
D. Key Financial Highlights
A summary of the audited consolidated annual financial statements and annual income statement comprehensive the period
of 31 December 2023, 31 December 2022, and 31 December 2021 are as follows:
PT BUMI RESOURCES Tbk and SUBSIDIARIES
Consolidated Statements of Financial Position
As of 31 December 2023, 2022, and 2021
(In Full USD, unless otherwise stated)
31 December 2023 31 December 2022 31 December 2021
ASSETS
Current Assets 704,716,702 772,731,911 775,582,880
Non-Current Assets 3,497,977,514 3,715,315,058 3,448,204,406
TOTAL ASSETS 4,202,694,216 4,488,046,969 4,223,787,286
LIABILITIES AND EQUITY
Current Liabilities 848,168,229 922,761,750 2,877,190,810
Non-Current Liabilities 579,749,906 746,776,957 700,149,789
TOTAL LIABILITIES 1,427,918,135 1,669,538,707 3,577,340,599
EQUITY 2,774,776,081 2,818,508,262 646,446,687
TOTAL LIABILITIES AND EQUITY 4,202,694,216 4,488,046,969 4,223,787,286
PT BUMI RESOURCES Tbk and SUBSIDIARIES
Consolidated Statements of Profit or Loss and Other Comprehensive Income
For the Years Ended December 31, 2023, 2022, and 2021
(In Full USD, unless otherwise stated)
31 December 2023 31 December 2022 31 December 2021
REVENUES 1,679,948,765 1,830,079,927 1,008,212,975
COST OF REVENUES (1,542,653,836) (1,459,438,981) (806,476,329)
Information to Shareholders 4
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GROSS PROFIT 137,294,929 370,640,946 201,736,646
OPERATING EXPENSES (80,482,691) (147,277,732) (77,876,631)
OPERATING PROFIT 56,812,238 223,363,214 123,860,015
OTHER INCOME (EXPENSES) 25,537,976 470,781,694 167,201,664
PROFIT BEFORE INCOME TAX 82,350,214 694,144,908 291,061,679
INCOME TAX EXPENSES - NET (49,924,476) (115,590,243) (67,684,665)
PROFIT AFTER TAX 32,425,738 578,554,665 223,377,014
PROFIT SHARING (5,524,771) (21,890,159) -
PROFIT FOR THE YEAR - NET 26,900,967 556,664,506 223,377,014
Profit for the Year Attributable To:
Owners of the Parent Entity 10,923,450 525,274,341 168,018,153
Non-Controlling Interests 15,977,517 31,390,165 55,358,861
26,900,967 556,664,506 223,377,014
Total Comprehensive Income For the Year
Attributable to:
Owners of the Parent Entity 7,268,244 524,940,964 167,861,585
Non-Controlling Interests 15,890,041 31,815,882 55,311,159
23,158,285 556,756,846 223,172,744
BASIC/DILUTED INCOME (LOSS) PER 1,000
0.03 3.14 2.27
SHARES
PT BUMI RESOURCES Tbk and SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2023, 2022, and 2021
(In Full USD, unless otherwise stated)
31 December 2023 31 December 2022 31 December 2021
CASH FLOWS FROM OPERATING
(115,869,701) (593,650,955) (74,421,710)
ACTIVITIES
CASH FLOWS FROM INVESTING ACTIVITIES 42,044,595 (211,946,579) (172,633,135)
CASH FLOWS FROM FINANCING ACTIVITIES 82,838,917 652,790,049 411,958,594
NET (DECREASE) INCREASE IN CASH AND
9,013,811 (152,807,485) 164,903,749
CASH EQUIVALENT
EFFECT OF FOREIGN EXCHANGE RATE ON
(14,104) (364,733) (66,622)
CASH AND CASH EQUIVALENT
CASH AND CASH EQUIVALENT AT
67,807,180 220,979,398 56,142,271
BEGINNING OF THE YEAR
CASH AND CASH EQUIVALENT AT THE YEAR
76,806,887 67,807,180 220,979,398
ENDED
E. Management Discussion and Analysis
The Company started to have a negative position in its Retained Earnings in 2012 amounting to USD433.0 million due to
Current Year Loss of USD666.2 million and Cash Dividend distribution of USD33.9 million. Significant transactions that caused
the Loss for the Year for this year (2012) were Interest Expenses of USD620.5, million related to Company’s Loan, and Loss
on derivative transactions of USD344.9 million.
The position of retained earnings continued to decline until it reached the lowest point in 2015, with a negative USD3,357.1
million due to the Company's loss in that period. As before, 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 best 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. Only in 2020 did the Company record 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 by the Company in October 2022, but also by non-cash and non-operational adjustments to the previous year's
Information to Shareholders 5
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transactions and non-recurring transactions in the form of impairment to some of the Company's assets. The positive position
of Profit for the year 2016 to 2022 with a total of more than USD1 billion, made the Company's Retained Earnings position
move from negative USD3,357.1 million in 2016 to negative USD2,351.2 million in 2023.
With the repayment of the PKPU Debt, interest expense that was the largest portion that affected the Company's profit will
no longer be the Company's burden in the future (please refer to Letter B above). 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 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) by 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. If the Proposed Quasi
Reorganization is not carried out now, it will be difficult for the Company to distribute dividends in the 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.
We are highly convinced that the coal industry will continue to grow. BUMI is optimistic that demand, in the next 5 to 10
years for coal will still outpace global supply. Renewable energy will still not be enough to replace coal over this period. These
factors are believed to keep coal prices high in the medium term.
Indonesia coal production target in 2023 is 695 million tons, up 4.82% from the 2022 target of 663 million tons, with domestic
demand contributing 177 million tons and export 518 million tons. Coal prices are expected to remain attractive in 2024 due
to the predicted global energy balance, which still needs coal as one of the alternative energy sources.
The Company through its subsidiaries produce coal, namely PT Kaltim Prima Coal and PT Arutmin Indonesia. They have total
JORC coal reserves of more than 1,000 million tons and Joint Ore Reserve Committee coal resources of more than 6,000
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 consistently reducing its operational costs through
further efficiencies and digitalization.
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 2023 before and
after according to the Quasi Reorganization which has been reviewed by Public Accountant Firm of Amir Abadi Jusuf, Aryanto,
Mawar & Rekan, based on accounting standards established by the Indonesian Institute of Certified Public Accountants
through its report No. R/010.ARC/tlg/2024 dated April 15, 2024 is as follows:
(in full USD)
31 December 2023
Consolidated Statements Before Implementation After Implementation of
of Financial Position of Quasi Reorganization Quasi Reorganization
(Audited) (Pro forma)
Assets
Current Assets
Cash and cash equivalents 76,806,887 76,806,887
Restricted cash in bank 112,754,091 112,754,091
Trade receivables
Third parties 160,014,720 160,014,720
Information to Shareholders 6
Page 7
Related parties 1,395,131 1,395,131
Other receivables
Third parties 7,290,525 7,290,525
Inventories 21,590,206 21,590,206
Prepaid taxes 32,315,695 32,315,695
Tax recoverable 14,077,851 14,077,851
Prepaid expenses 5,746,343 5,746,343
Other current assets 272,725,253 272,725,253
Total Current Assets 704,716,702 704,716,702
Non-Current Assets
Due from related parties 193,077,540 193,077,540
Deferred tax assets 114,558,453 114,558,453
Investment in associate and
900,892,834 900,892,834
joint venture
Fixed assets 217,465,048 217,465,048
Mining properties 1,567,294,275 1,567,294,275
Exploration and evaluation
129,143,785 129,143,785
assets
Right-of-use assets 153,198,704 153,198,704
Claims for income tax refund 38,328,126 38,328,126
Goodwill - neto 48,412,144 48,412,144
Other non-current assets
Third parties 135,558,124 135,558,124
Related parties 48,481 48,481
Total Non-Current Assets 3,497,977,514 3,497,977,514
Total Assets 4,202,694,216 4,202,694,216
Liabilities and Equity
Current Liabilities
Short-term loan 87,151,658 87,151,658
Trade payables
Third parties 134,433,075 134,433,075
Related parties 46,192,999 46,192,999
Other payables
Third parties 140,271,756 140,271,756
Due to government 7,325,285 7,325,285
Accrued expenses 360,265,072 360,265,072
Taxes payable 18,773,560 18,773,560
Current maturities of long-term
liabilities
Long-term loans 21,110,380 21,110,380
Estimated liability for restoration
11,676,220 11,676,220
and rehabilitation
Lease liabilities 20,968,224 20,968,224
Total Current Liabilities 848,168,229 848,168,229
Non-Current Liabilities
Due to related parties 196,006,265 196,006,265
Employment benefit liabilities 15,847,798 15,847,798
Long-term liabilities - net of
Current maturities:
Long-term loan 45,120,103 45,120,103
Estimated liability for
restoration and 190,545,258 190,545,258
rehabilitation
Lease liabilities 132,230,482 132,230,482
Total Non-Current Liabilities 579,749,906 579,749,906
Total Liabilities 1,427,918,135 1,427,918,135
Equity
Capital stock 2,932,398,954 2,932,398,954
Additional paid-in capital - net 2,052,547,073 (298,691,759)
Difference in the change in
equity transaction of
subsidiary/associate (764,455,360) (764,455,360)
Difference in the change in
equity transaction in joint
ventures (306,833,020) (306,833,020)
Other capital reserves (19,281,863) (19,281,863)
Deficits (2,351,238,832) -
Total equity attributable to the
1,543,136,952 1,543,136,952
owners of the parent entity
Information to Shareholders 7
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Non-controlling interests 1,231,639,129 1,231,639,129
Equity – net 2,774,776,081 2,774,776,081
Total Liabilities and Equity 4,202,694,216 4,202,694,216
H. Accountant’s Report in Connection with the Engagement of Proforma Annual Statement of Financial Position After
the Implementation of Quasi Reorganization
KAP Amir Abadi Jusuf, Aryanto, Mawar & Rekan in its report No. R/010.ARC/tlg/2024 dated April 15, 2024 regarding the
Independent Assurance Report on the Proforma Consolidated Statement of Financial Position of the Company and its subsidiaries
as of 31 December 2023 after the implementation of the proposed Quasi Reorganization stated that nothing has come to the
Accountant’s attention that causes the Accountant to believe, in all material respects, that the Company and its subsidiaries
proforma consolidated statement of financial position as of December 31, 2023 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. Opinion of Capital Market Supporting Professionals Regarding the Appropriateness of the Implementation
Procedure of Quasi Reorganization
KAP Amir Abadi Jusuf, Aryanto, Mawar dan Rekan in its report No. R/108.AAT/tlg/2024 dated April 15, 2024 regarding the
Independent Practitioner’s Limited Assurance Report in connection with plan to conduct Quasi Reorganization of the Company
and its subsidiaries as of December 31, 2023, stated that nothing has come to the Accountant’s attention that causes the
Accountant to believe, in all material respects, that the application of procedures and provisions of the Company and its
subsidiaries proposed quasi reorganization dated December 31, 2023 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 EGMS which will be held on Thursday, 30 May 2024 with due observance of the provisions stipulated
in the Company's Articles of Association.
The EGMS of the Company must be attended by shareholders representing more than ½ of the total shares with valid voting rights
and the resolution is approved by more than ½ of the total votes validly cast in the EGMS.
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 16 April 2024
- Announcement of Information to Shareholders regarding the Proposed Quasi
23 April 2024
Reorganization
- Announcement of EGMS on eASY.KSEI, IDX and the Company's websites 23 April 2024
- Recording Date 7 May 2024
- Invitation to the EGMS on eASY.KSEI, the IDX and the Company's websites 8 May 2024
- EGMS 30 May 2024
The Company's EGMS will be held on Thursday, 30 May 2024, and the venue of the EGMS will be announced during the EGMS
Announcement. Shareholders who are unable to attend the Meeting, can be represented by their proxies by bringing a valid Power
of Attorney in a form acceptable to the Board of Directors provided that members of the Board of Directors, Commissioners, and
employees of the Company are allowed to act as Proxies of Shareholders at the Meeting, but the votes they cast as Proxies are not
counted in the voting. For Shareholders whose addresses are registered overseas, the Power of Attorney must be legalized by a
Notary and the local Embassy of the Republic of Indonesia.
The form of Power of Attorney can be obtained every working day, during business hours at the Company's office at the address,
Rasuna Epicentrum, Bakrie Tower, 12th floor, Jl. H.R. Rasuna Said, Jakarta 12940, Indonesia. The Power of Attorney must be signed
with stamp duty and received by the Corporate Secretary Department of the Company no later than 3 (three) business days before
the date of the EGMS, which is on Monday, 27 May 2024.
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 to all shareholders to approve the Proposed Quasi
Reorganization as mentioned in this Information to Shareholders. In providing such 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
Shareholders who wish to obtain other information in relation with the Proposed Quasi Reorganization, may contact the Company
during business hour (8.00 am to 16.00 pm West 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, 23 April 2024
Board of Directors of PT Bumi Resources Tbk.
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 ×2
unresolved
person
Djoko Soepadmo
p.2
unresolved
org
Minister of Justice
p.2
unresolved
person
Humberg Lie
· Notaris
p.2 ×3
unresolved
org
Mach Energy (Hongkong
p.2
unresolved
org
C Chengdong Investment Corp
p.2
unresolved
org
Ministry of Law and Human Rights
p.2
unresolved
org
PT Kaltim Prima Coal
p.6
unresolved
org
PT Arutmin Indonesia. They
p.6
unresolved
org
Mawar & Rekan
p.6 ×2
unresolved
org
Bapepam-LK
p.8 ×4
unresolved
org
Mawar dan Rekan
p.8
unresolved
org
Independent Practitioner’s Limited
p.8
Extraction attempts how the parser did, and what it refused
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