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11 Oct 2012 07:00
For Immediate Release 11 October 2012 Bumi plc Proposal received from shareholders
The Board of Bumi plc ("the Company") has received a proposal from PT Bakrie and Brothers Tbk and Long Haul Holdings Limited (collectively the "Bakrie Group") to cancel their indirect approximately 23.8% shareholding in the Company, in exchange for an equivalent value of PT Bumi Resources Tbk ("Bumi Tbk") shares representing 10.3% of the total outstanding share capital of Bumi Tbk as presently held through the Company. In addition, the Bakrie Group has made a conditional proposal to buy back the remaining 18.9% shareholding in Bumi Tbk for cash before Christmas 2012.
The Board is considering the share exchange proposal and will make a recommendation to shareholders. It will also consider the offer to buy back the remaining 18.9% shareholding in Bumi Tbk.
The Bakrie Group has further made a conditional proposal to make a cash offer within the next six months for the Company's approximately 84.7% shareholding in PT Berau Coal Energy Tbk.
For further information please contact:
Bumi plcNick von SchirndingTel: +44 (0) 20 7201 7507J.P. Morgan CazenoveJames Taylor / Neil PassmoreTel: +44 (0) 20 7588 2828FinsburyEd SimpkinsTel: +44 (0) 20 7251 3801
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