Bumi plc appoints Rothschild Group as financial adviser

By Romel S. Gurky

The board of Bumi plc recently announced it has appointed Rothschild Group as its Financial Adviser with immediate effect. This follows the announcement on 17 October 2012 when the Board announced the appointment of Rothschild Group to evaluate the proposal received from Long Haul Holdings Ltd.

As previously reported, following receipt of the Proposals on 11 October 2012, the board requested that the independent non-executive Directors of Bumi review the three transaction proposals proposed by Long Haul Holdings Ltd and report to the board. The independent non-executive Directors will be considering each of the proposals on their own merits, and the board has appointed Rothschild Group to evaluate each of the three proposals on the basis of, inter alia, their value for shareholders, and deliverability and report to the independent directors and subsequently to the board.

Editing by Er Audy Zandri