ARMS extends for second time ?early bird? date

By Ruli Setiawan

LSE-listed mining company Asia Resource Mineral Plc (ARMS) announced it has decided to extend the date of an ?early bird? scheme offered to noteholders to April 30.

?We hereby extend the Early Bird Date referenced in the Restructuring Support Agreement to 30 April 2015,? ARMS said in a statement Wednesday. The firm had previously extended the date to April 22 from April 15.

As has been previously reported, ARMS proposed a restructuring support agreement, as part of an overall recapitalization of the company and its subsidiaries including IDX-listed coal miner PT Berau Coal Energy Tbk, to exchange notes maturing in 2015 and 2017. Under the proposal, each noteholder that executes or accedes to the restructuring support agreement will be paid a consent fee equal to 0.2 percent of the principal amount of notes held by such noteholder at the record date. An additional "early bird" fee of 0.2 percent of such principal amount will be paid to any noteholder that takes such action on or before April 15, 2015.

Editing by Reiner Simanjuntak