Johanes Kotjo increases stakes in BlackGold
Tuesday, August 22 2017 - 01:05 AM WIB
SGX-listed coal mining firm BlackGold Natural Resources Limited announced Tuesday Johanes Budisutrisno Kotjo, a consultant and shareholder of the group, had on August 17 purchased 300,000 shares in the company from the open market.
?We have received immense support from Johanes Kotjo, both from his role as a consultant of the group and recently as a shareholder? said Philip Rickard, the Chief Executive Officer of the BlackGold Group in a statement. ?This additional acquisition of shares reflects Johanes Kotjo?s confidence in BlackGold, and we are very encouraged by this move.?
The purchase brought the number of shares directly owned by Kotjo, an Indonesian businessman, to a total of 40,045,552 shares. Kotjo had recently acquired 39,511,654 ordinary shares in the company through a share placement agreement which was completed in May 2017.
?BlackGold has demonstrated positive developments through its recent announcements regarding its planned 2 x 300 megawatt project with China Huadian Engineering Co., Ltd on 12 June 2017 and, thereafter, the threefold increase in coal reserves on 10 August 2017. The roup has a relatively resilient business model and I am pleased to be furthering my investment in the group through this accretive acquisition of additional interests,? Kotjo said.
Last week, BlackGold said that the group?s Independent Non-Executive Chairman of the group, Intekhab Khan had on August 15 purchased a total of 180,000 ordinary shares of the company through Kaalasona Limited, a shareholder of the company, signaling strong confidence in the company. BlackGold said in a statement that this purchase further increases his shareholding to 37,176,294 shares, accounting for approximately 3.99 percent of the group?s entire issued share capital.
BlackGold, which operates coal concessions in Indonesia through PT Samantaka Batubara in Riau Province, is planning to develop a 2x300 MW coal-fired power plant (PLTU) in the province, called the Riau 1 Project.
Editing by Reiner Simanjuntak