Bumi to hold public expose meeting soon

PT Bumi Resources, which is making preparations to buy the entire shares of coalmining giant Kaltim Prima Coal (KPC), will soon hold public expose meeting as required by the Jakarta Stock Exchange (JSX), Bumi?s finance director Edi Sobari told Petromindo.Com Wednesday.

?We met with the bourse management today, and they asked us to hold a public expose meeting as soon as possible,? Edi said.

Edi said they would do what JSX wanted, but he did not say exactly when his company would hold its public expose meeting.

JSX on Tuesday suspended the trading of Bumi shares on the ground that the company had failed to give the bourse complete information about its decision to acquire KPC for US$500 million. The information required included the terms and condition in its sales and purchase agreement with KPC shareholders Rio Tinto and BP Plc.

The bourse said Bumi?s report on its plan to buy KPC, which was submitted to JSX recently, could mislead the public. (godang)