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Repaying Innovate Capital, BUMI to issue a private placement

www.idnfinancials.com

Thu 23 Jun 2022, 09:56 AM

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PT Bumi Resources Tbk (BUMI) will conduct a private placement in order to seek extra money to repair the negative working capital and complete obligations to Innovate Capital Pte Ltd. This corporate action plan will be decided on Extraordinary General Shareholders Meeting on July 29, 2022.

In the information disclosure quoted Thursday (23/6), Dileep Srivastava, Corporate Secretary of Bumi Resources, confirmed that the company will issue 13,206,473,996 series C shares of IDR 50 each. This action is intended as a debt-to-equity swap, converting IDR 1.01 trillion of loans into shares of IDR 76.59 per series C share.

After this private placement, the issued and paid-up capital of BUMI will rise to 142,065,947,081 shares, consisiting of series A of 20,773,400,000 shares, series B of 1,346,007 shares and series C of 67,791,201,074 shares. Prior to this corporate action, its issued and paid-up capital is 128,857,473,085 shares, consisting of series A of 20,773,400,000 shares, series B of 53,501,346,007 shares, and series C of 5,584,727,078 shares. (LK/ZH)

Source: https://www.idnfinancials.com/news/43452/repaying-innovate-capital-bumi-issue-private-placement

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