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11 Jul 2013 11:56
11 July 2013
For Immediate Release
Bumi plc ("Bumi" or the "Company")
Separation Transaction Update
Bumi notes the announcement made this morning by PT Borneo Lumbung Energi & Metal Tbk ("Borneo") of the agreement pursuant to which Ravenwood Pte Ltd, an affiliate of Borneo, will acquire the Bakrie Group's indirect 23.8% interest in Bumi, including the fact that this transaction is conditional upon, amongst other things, the approval by the independent shareholders of Bumi of i) the sale to the Bakrie Group of Bumi's 29.2% interest in PT Bumi Resources Tbk ("Bumi Resources"); and (ii) a waiver of the requirement under Rule 9 of the City Code on Takeovers and Mergers for Borneo or any of its affiliates to make a general offer for the shares in Bumi which they do not own.
Bumi is not party to discussions between its shareholders.
Discussions between Bumi and the Bakrie Group about the sale of the Company's interest in Bumi Resources are ongoing and a further announcement will be made in due course.
-ENDS-
For enquiries, please contact:
Bumi plc
Jayesh Pankhania
+44 (0) 20 7201 7500
RLM Finsbury
Ed Simpkins / Charles O'Brien
+44 (0) 20 7251 3801
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