Jakarta - PT Bumi Resources Tbk (BUMI) plans to increase its capital without Pre-emptive Rights by issuing a maximum of 103.066 billion C series shares, 138.76% of the issued capital.

According to the company's disclosure of information published on Wednesday (17/11), to realize the plan, BUMI will hold an EGMS on December 23, 2021.

The company will carry out the PMTHMETD, or private placement plan, in order to improve financial position by referring to the provisions of the OJK Regulation, namely BUMI has a negative net working capital and has a liability exceeding 80% of assets when the EGMS approves the celebration.

Meanwhile, net working capital was negative at US$805.44 million, and total consolidated liabilities reached US$3.306 billion or more than 80% of BUMI's consolidated assets of US$3.523 billion.

BUMI also carried out this private placement to fulfill the request for conversion of mandatory convertible bonds (OWK) in the c