Borneo Minerals issues new shares to Atlas Resources
Monday, April 15 2013 - 03:55 AM WIB
SGX-listed firm Noble Group Limited announced on Monday that PT Borneo Minerals issued 7,500 new shares at Rp100,000 each to PT Atlas Resources Tbk. at total subscription amount of Rp750,000,000 (USD77,000) on 12 April 2013.
Borneo Minerals is a company incorporated in Indonesia which was 100% ultimately beneficially owned and controlled by Nobel Group. Following the subscription, the percentage beneficial interest of the company in Borneo Minerals has been diluted from 100% to 25%.
It said that the subscription was satisfied in cash and was agreed, taking into consideration the prevailing market conditions.
The company's financial statement as of 31 December 2012 stated the book value and the net tangible assets value of Borneo Minerals was USD1,804,000.
Editing by Adianto P. Simamora