Indus appoints new directors

By Ruli Setiawan

ASX-listed Indus Coal Limited announced Monday it has appointed Jason Peterson and Nithan Thiru as Executive Directors effective immediately.

Indus said in a statement that Peterson has more than 20 years of experience in the financial advisory sector, obtained by working in both local and international stockbroking firms.

Peterson specializes in corporate structuring, capital raisings, corporate and strategic advice to small and medium size companies and reverse takeovers. He holds a Bachelor of Commerce degree from Curtin University in Australia and a Graduate Diploma of Finance from FINSIA (Financial Services Institute of Australia)/SDIA (Securities & Derivatives Institute of Australia).

Peterson is the CEO/Director and major shareholder of Perth based stockbroking and investment banking firm CPS Capital Group Pty Ltd.

Indus said Thiru began his career at Merrill Lynch Investment Banking and primarily covered Financial Institutions. He moved into Venture Capital and then across to Private Equity before being a founding principal of the Corporate Advisory division at Gleneagle Securities Australia Pty Ltd. Gleneagles is a multi-disciplinary financial services house operating Corporate Advisory, Funds Management and Foreign Exchange.

Thiru holds a Bachelor of Commerce from Sydney University and Masters in Applied Finance from Macquarie University.

Elsewhere, Indus said that CPS Capital is progressing with the raising of up to A$500,000 by way of a debt drawdown facility. This raising of capital is for working capital purposes and is subject to and conditional upon (amongst other things) the successful restructuring of the terms of its two existing bond issues, it added.

Indus owns 38 percent of Indonesian coal mining firm PT Berlian Mahkota Coal, which is the 100 percent owner of the Blok 9 coal concession in Central Tebo District, Tebo Regency, Jambi. The concession has an estimated JORC resource of 94,000,000 tons of thermal coal.

Editing by Reiner Simanjuntak