Bloomberg Technoz, Jakarta – Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif indicated that the board of commissioners of PT Vale Indonesia Tbk (INCO) would be reshuffled after reaching an agreement on the price of 14% of its shares which must be divested to PT Mineral Industri Indonesia (MIND ID).
“There must be a change [komisarisnya]. The current commissioner is from there [pihak Vale Canada Ltd],” said Arifin when met in Jakarta, Friday (16/2/2024).
In direct contrast to Arifin’s statement, Vale Indonesia quietly received resignation letters from two of its commissioners this month. This announcement was made by the management of the company codenamed INCO in the Information Disclosure on the Indonesian Stock Exchange (BEI).
INCO corporate secretary Filia Ananda said that the two high-ranking officials who submitted resignation letters were Deshnee Naidoo as President Commissioner and Gustavo Garavaglia as commissioner. Both submitted their resignations on February 9.
Balambano Hydroelectric Power Plant control room, PT Vale Indonesia in Sorowako, South Sulawesi, Saturday (11/6/2022). (Dimas Ardian/Bloomberg)
Based on Financial Services Authority Regulation no. 33/POJK.04/2014 concerning the Board of Directors and Board of Commissioners of Issuers or Public Companies, Vale will hold a General Meeting of Shareholders no later than 90 days after receipt of the resignation.
2024-02-17 16:13:55
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