26 Mar 2014 17:20
26 March 2014
For Immediate Release
Asia Resource Minerals plc ("ARMS" or the "Company")
Conversion Announcement
Capitalised terms not otherwise defined in this announcement have the meanings given to them in the Circular.
As described in the circular to shareholders published by the Company on 7 November (the "Circular") and in the Company's 25 March announcement, RACL, a company owned by Samin Tan, has acquired the Bakrie Group's entire 23.8% indirect interest in the Company. In addition, 3,081,371 Suspended Voting Ordinary Shares have been transferred to Borneo Bumi Energi (which, following completion of the Separation, is wholly-owned by PT Borneo Lumbung Energi & Metal Tbk). As a result, 60,442,782 Suspended Voting Ordinary Shares have today converted into 60,442,782 Voting Ordinary Shares (the "Conversion"). Following the Conversion, there are no Suspended Voting Ordinary Shares in issue.
Following completion of the Separation and the Conversion, Borneo Bumi Energi holds 57,235,656 Voting Ordinary Shares and RACL holds 57,361,411 Voting Ordinary Shares. Borneo Bumi Energi and RACL therefore hold 114,597,067 Voting Ordinary Shares in total, representing 47.6% of the total number of shares in the Company.
An application has been made to the Financial Conduct Authority for 60,442,782 new Voting Ordinary Shares to be admitted to the premium listing segment of the Official List of the UK Listing Authority and to London Stock Exchange plc for 60,442,782 new Voting Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities ("Conversion Admission"). It is expected that Conversion Admission will become effective, and that dealings in such shares will commence, at 8.00 a.m. on 1 April 2014.
For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, upon the Conversion Admission on 1 April 2014, the total number of voting rights in the Company will be the same as the total number of Voting Ordinary Shares, which will be 240,957,067
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For enquiries, please contact:
Asia Resource Minerals plc
Sean Wade +44 (0) 20 7201 7511 | RLM Finsbury
Ed Simpkins / Charles O'Brien +44 (0) 20 7251 3801 |