Overview of Our Philosophy, Milestones, Business Unit, Management, Company Structure, and Our Shareholder

1973

The Company was established by the name of PT Bumi Modern, engaging in the hospitality and tourism industry.

1990

BUMI conducted Initial Public Offering of Shares listed on the Jakarta and Surabaya Stock Exchanges (Currently merged and become Indonesian Stock Exchange).

1997

PT Bakrie Capital Indonesia took over the Company’s 58.15% shares of Asuransi Jiwa Bersama Bumiputera 1912.

1998

Through the Extraordinary General Meeting of Shareholders on 31August, it was decided to change the Company’s main business from hospitality and tourism into oil, natural gas, and mining.

2000

The Company acquired 97.5% of the shares of Gallo Oil (Jersey) Ltd. Based on Decree of the Minister of Justice of the Republic of Indonesia No. C-21 041-TH HT.01.04. 2000 dated 20 September 2000, the Company changed the name from PT Bumi Modern Tbk to PT Bumi Resources Tbk.

2001

In November, the Company acquired an 80% stake in PT Arutmin Indonesia (AI), the fourth largest coal producer in Indonesia.

2003

In October, the Company purchased 100% shares of PT Kaltim Prima Coal (KPC), the largest coal producer in Indonesia, after acquiring Sangatta Holdings Ltd. (SHL) and Kalimantan Coal Ltd. (KCL).

2004

The Company acquired a 19.99% stake in Arutmin, thereby increasing its ownership to 99.99%.

2005

The Company successfully completed the entire process of divestment of KPC shares as required under article 26 of the Coal Contract of Work (CCOW). After completion of the divestment process, the KPC shares are as follows: SHL and KCL, the Company’s business units, respectively 24.5% and 13.6% owned directly by the Company and 32.4% owned by PT Sitrade Coal, being a Company’s business unit.

2006

The Company bought back a maximum of 10% of the total issued shares.

2007

30% ownership in Arutmin and KPC sold to Tata Power of India. In June and in October issued two convertible bonds worth a total of US$ 450 million, which was oversubscribed 3 to 4 times.

2008

After going through a long process, BUMI
finally purchased Herald Resources Ltd of Australia at a value of AU$ 552 million. This mining operation, located in North Sumatra, has zinc, lead and, gold.

2009

China Investment Corporation (CIC) provided US$1.9 billion in debt instruments, consisting of US$ 600 million to be paid back in 2013, US$ 600 million in 2014, and the remaining US$ 700 million in 2015. These investments have a cash coupon of 12% per year with a total IRR of 19%, with the principle paid at maturity. These funds were used for debt restructuring and capital expenditure.

2010

Execution of capital increase without preemptive rights as approve in the EGMS of 24 June.

2011

The Company has made repayment of the Tranche A of US$ 600 million of the China Investment Corporation (CIC) debt, which would have matured on 30 September 2013, paid almost 2 (two) years earlier based upon mutual agreement.

2012

Through the EGMS on 21 May, it was decided the change in composition of members of Board of Commissioners and Board of Directors of the Company.

2013

Through the Annual and Extraordinary General Meetings of Shareholders on 28 June, it was decided the change in composition of members of Board of Commissioners and Board of Directors of the Company. On 26 June, the Company held a celebration event for 40th Anniversary.

2014

Shareholders approved Rights Issue IV in Extraordinary General Meeting held on June 30, 2014 - to issue up to 32,198,770,000 common shares Series B of nominal value of Rp100
per share at an offer price Rp250 per share valued at Rp8,049,692,500,000. 15,853,620,427 shares were subscribed and issued on 7 October.

2015

During the Annual General Meeting on August 13, shareholders approved the change in the composition of the Board of Commissioners and the Board of Directors. Through the GMS resolution, the Company conducted efficiency by reducing the number of members of the Board of Directors from six to four persons and the Board of Commissioners from seven to three persons.

2016

The Company’s restructuring plan won 99.8% support of voting secured creditors and 100% of voting unsecured creditors. Hence, Bumi Resources announced termination of PKPU proceedings and ratification of composition agreement

2017

BUMI has closed the Right Issue. Based on Net Asset Equity Value of USD4.6 billion, conversion price would be Rp926.16 per share, using the exchange rate @ Rp13,235. Fully subscribed by shareholders & standby buyers.

2018

 

2019

PT BUMI resources tbk successfully conducted cash payments settlement in the amount of USD134,70 million for trance A
BUMI recorded its highest sales in history wit a total of 87.7 MT

2020

Changes in the composition of the Board of Commissioners and Directors based on the resolution of the EGMS on 16 September.

Settlement of a total payment of USD331.6 million on Tranche A Principal and Coupon.

2021

Changes in the composition of the Board of Commissioners and the Board of Directors based on the resolution of the Annual GMS on August 31.

Payment settlement with a total of USD443.8 million against Tranche A principal and coupon in 2021.

2022

Approval for the amendment of the Company’s Articles of Association in relation to
the proposed issuance of shares of new series (Series C shares) at the nominal value
of Rp50 (fifty Rupiah) per share and approval for the proposed Capital Increase
through Non-Preemptive Rights (PMTHMETD) for the purpose of conversion of
Mandatory Convertible Bonds (OWK) of the Company (EGMS/14 Jan).

Changes in the composition of the Board of Commissioners and Directors (AGMS/29
July).

Approval for proposed Capital Increase via PMTHMETD for the purpose of
improving the Company’s financial position. All remaining obligations of the
Company have been fully settled which made the Company has now become a debt
free company (AGMS/11 Oct).

2023

Changes in the composition of the Board of Commissioners and Directors based on
the resolution of the AGMS on June 30.

Approval of the affirmation and re-authorization to the Board of Commissioners and
Directors to issue new shares related to the conversion of Mandatory Convertible
Bonds (OWK) issued by the Company, as approved by the EGMS on February 7,
2017 and January 14, 2022.

The Company celebrates its 50th anniversary on June 26, 2023. The golden age
achieved by the Company gives a special meaning to the Company’s long journey, as
well as proves the Company’s ability to maintain its position a one of the industry
leaders.