EMP?s shareholders meeting postponed again

Publicly-listed oil and gas company PT Energi Mega Persada's(EMP) extraordinary shareholders' meeting, which is scheduled for November 6, has been postponed.

The agenda of the shareholders meeting is to spin-off EMP?s shares in troubled company PT Lapindo Brantas.

EMP has already received a letter in this regards from the Capital Market Supervisory Agency (Bapepam).

?We have received the letter from Bapepam asking to postpone the shareholders' meeting. The reason for the postponement is that it needs some more information about the divestment of Lapindo?s shares,? EMP?s investor relations manager Herwin Hidayat said in Jakarta on Thursday.

?What is clear is that we will provide whatever information is needed by Bapepam,? Herwin said.

Herwin also said that he was not in a position to tell when the shareholders? meeting will be held. According to him the date will depend upon on the completion of process at Bapepam.

On September, EMP intended to sell its stake in Kalila Energy Limited and Pan Asia Enterprise Limited, which together own 99.99 percent of Lapindo, to Lyte Ltd, a subsidiary of Bakrie Group Company, at a price of just US$2. (denny)