Jakarta - PT Bumi Resources Tbk (BUMI) plans to hold an extraordinary general meeting of shareholders (EGM) on October 11, 2022, to seek approval for implementing the additional capital plan without granting preemptive rights or private placement.

Bumi Resources will issue a maximum of 200 billion C-series common shares without preemptive rights to improve its financial position. The exercise price is Rp120 per share so the transaction value can reach Rp24 trillion.

"We are optimistic that the shareholders will approve the plan to settle the company's obligations with a private placement because the settlement of the company's obligations to creditors will improve the company's financial condition through a significant decrease in liabilities, followed by an increase in profitability due to a reduction in financial costs. So that it will directly increase the company's equity valuation even though there is a decrease in the percentage of owne