Bumi decides not to proceed with recent divestment plan
Monday, October 17 2011 - 09:42 AM WIB
PT Bumi Resources Tbk. considers it prudent not to proceed with divestment of 75% stake sale of PT Bumi Resources Minerals Tbk (BRM) at this time due to the acutely uncertain market conditions.
"When the global market conditions normalise, we may consider reviving this proposal," Bumi said in statement on Monday.
This action is being taken in the best interest of its shareholders and avoid any risk of being disadvantaged during the present sensitive market environment.
Therefore, it is our intention that 'BRM stake sale' is taken off the agenda in the companys? extraordinary general meeting (EGMS) presently scheduled for 21 October'2011. (romel)