mainbanner6.jpg

Corporate Info

Home arrow Corporate Info arrow Milestone

Milestones
1973: The Company was established by the name of PT Bumi Modern, engaging in the hospitality and tourism industry.

 

1990: BUMI conducted Initial Public Offering of Shares listed on the Jakarta and Surabaya Stock Exchanges (Currently merged and become Indonesian Stock Exchange

 

1997: PT Bakrie Capital Indonesia took over the Company’s 58.15% shares of Asuransi Jiwa Bersama Bumiputera 1912.

 

1998: Through the Extraordinary General Meeting of Shareholders on 31 August, it was decided to change the Company’s main business from hospitality and tourism into oil, natural gas, and mining.

 

2000: The Company acquired 97.5% of the shares of Gallo Oil (Jersey) Ltd. Based on Decree of the Minister of Justice of the Republic of Indonesia No. C-21 041-TH HT.01.04. 2000 dated 20 September 2000, the Company changed the name from PT Bumi Modern Tbk to PT Bumi Resources Tbk

 

2001: In November, the Company acquired an 80% stake in PT Arutmin Indonesia (AI), the fourth largest coal producer in Indonesia.

 

2003: In October, the Company purchased 100% shares of PT Kaltim Prima Coal (KPC), the largest coal producer in Indonesia, after acquiring Sangatta Holdings Ltd. (SHL) and Kalimantan Coal Ltd. (KCL).

 

2004: The Company acquired a 19.99% stake in Arutmin thereby increasing its ownership to 99.99%.

 

2005: The Company successfully completed the entire process of divestment of KPC shares as required under article 26 of the Coal Contract of Work (CCOW). After completion of the divestment process, the KPC shares are as follows: SHL and KCL, the Company’s business units, respectively 24.5% and 13.6% owned directly by the Company and 32.4% owned by PT Sitrade Coal, being a Company’s business unit.

 

2006: The Company bought back a maximum of 10% of the total issued shares

 

2007: 30% ownership in Arutmin and KPC sold to Tata Power of India. In June and in October issued two convertible bonds worth a total of US$450 million, which was oversubscribed 3 to 4 times.

 

2008: After going through a long process, BUMI finally purchased Herald Resources Ltd of Australia at a value of AU$ 552 million. This mining operation, located in North Sumatra, has zinc, lead and, gold

 

2009: China Investment Corporation (CIC) provided US$1.9 billion in debt instruments, consisting of US$600 million to be paid back in 2013, US$600 million in 2014, and the remaining US$700 million in 2015. These investments have a cash coupon of 12% per year with a total IRR of 19%, with the principle paid at maturity. These funds were used for debt restructuring and capital expenditure.

 

2010: Execution of capital increase without pre-emptive rights as approve in the EGMS of 24 June.

 

2011: The Company has made repayment of the Tranche A of US$600 million of the China Investment Corporation (CIC) debt, which would have matured on 30 September 2013, paid almost 2 (two) years earlier based upon mutual agreement.

 

2012: Through the EGMS on 21 May, it was decided the change in composition of members of Board of Commissioners and Board of Directors of the Company.

 

2013: Through the Annual and Extraordinary General Meetings of Shareholders on 28 June, it was decided the change in composition of members of Board of Commissioners and Board of Directors of the Company On 26 June, the Company held a celebration event for 40th Anniversary.

 

2014: Shareholders approved Rights Issue IV in Extraordinary General Meeting held on June 30, 2014 - to issue up to 32,198,770,000 common shares Series B of nominal value of Rp 100 per share at an offer price Rp 250 per share valued at Rp 8,049,692,500,000. 15,853,620,427 shares were subcribed and issued on 7 October 2014.

 

 
© 2017 PT. Bumi Resources Tbk.