ILLUSTRATION. Bumi Resources Minerals (BRMS) received the green light from the OJK regarding the rights issue plan.
Reporter: Dityasa H. Forddanta | Editor: Wahyu T. Rahmawati
KONTAN.CO.ID – JAKARTA. PT Bumi Resources Minerals Tbk (BRMS) can immediately execute the plan to increase capital with pre-emptive rights (PMHMETD) or rights issue. This was after management received the green light from the Financial Services Authority (OJK) regarding the plan.
“We have got a statement of effectiveness rights issue from OJK, “said Herwin Hidayat, Director & Investor Relations of BRMS, Thursday (18/3). BRMS will release 22.9 billion shares at a price of Rp 70 per share. Thus, the value of this corporate action will reach Rp 1.6 trillion.
Each owner of 400 shares of BRMS has the right to purchase 129 new shares issued. A total of 250 new shares will also be attached with 267 warrants. Each warrant owner has the opportunity to buy one BRMS share, also at a price of Rp 70 per warrant.
“There are two buyers on standby rights issue this, “said Herwin. One standby buyer or standby buyer willing to accommodate 6.22 billion if there are remaining shares that are not absorbed by the market. Moderate standby buyer the second is willing to buy as much as 16.68 billion or the equivalent of 73%.
Also Read: Bumi Resources Minerals (BRMS) Management Ensures Rights Issues Are Still Implemented
BRMS will set aside US $ 48 million from the total fund rights issue to build gold ore with a capacity of 4,000 tonnes per day in Palu. Then, US $ 23 million will be used to drill four gold projects in Palu to increase gold reserves.
BRMS also plans to drill two gold mines in Gorontalo. The funds used for this plan amounted to US $ 5.25 million.
Then, BRMS will use US $ 29 million in funds rights issue to pay off the loan. The remaining funds rights issue will be used for working capital.
Also Read: Bumi Resources (BUMI) believes it can pay its obligations this year
How data rights issue this falls on March 26th. Ex date falls on March 29, followed by recording date which took place on March 20.
The exercise period of the HMETD starts from April 1 to April 9. After this, there is an implementation period which runs from 6 October to 29 October.
Also Read: Moving wild, consider the recommendations of Bakrie Group issuers’ shares
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Reporter: Dityasa H. Forddanta
Editor: Wahyu T. Rahmawati
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