Jakarta, 12 May 2017
The Company confirms having provided an additional explanation to IDX on its proposed Rights Issue and Mandatory Convertible Bonds. Your attention is drawn to the attached letter, posted on IDX website this morning.
We provide an overview of the Company’s Rights Issue and MCB Issue structure to enable provide a complete understanding to the public.
BUMI RIGHTS ISSUE& MCB COMPUTATION – AN OVERVIEW
| Debt Restructured | IDR/1USD | No. of New Shares | IDR/Share | #of shares | |
| (in IDR) | |||||
| Total Rights Issue | $2,011,924,522 | 13,235 | 26,627,821,052,243 | 926.16 | 28,750,928,802 |
| MCB | $639,000,000 | 13,235 | 8,457,165,000 | N/A | |
| FOR RIGHTS ISSUE | |||
| Share outstanding | 36,627,020,427 | shares | |
| Rights Issue | 28,750,928,802 | shares | |
| Preemptive Right | 0.785 | New shares/ 1 existing shares | |
| Preemptive Right | 78 | New shares/ 100 existing shares (per one lot) | |
| Preemptive Right | 78 | New shares/ 100 existing shares (per one lot) | |
| Every 100 existing shares have the preemptive rights to purchase 78 new shares issued via the rights issue | |||
| FOR RIGHTS ISSUE | |||
| Share outstanding | 36,627,020,427 | shares | |
| Rights Issue | 28,750,928,802 | shares | |
| Preemptive Right | 0.785 | New shares/ 1 existing shares | |
| Preemptive Right | 78 | New shares/ 100 existing shares (per one lot) | |
| Preemptive Right | 78 | New shares/ 100 existing shares (per one lot) | |
| Every 100 existing shares have the preemptive rights to purchase 78 new shares issued via the rights issue | |||
| For MCB | |||
| Share outstanding | 36,627,020,427 | shares | |
| MCB to issue | 8,457,165,000,000 | IDR face value | |
| Unit price | 1.00 | IDR/unit MCB | |
| MCB units | 8,457,165,000,000 | units | |
| Preemptive Right | 230.8996 | Units MCB/ 1 existing share | |
| Preemptive Right | 23,089 | Units MCB/ 100 existing share (per one lot) | |
| Every 100 existing shares have the preemptive rights to purchase 23089 units MCB at IDR 1 per unit MCB | |||
MCB’s have limited Convertibility over tenor of 7 years based on an agreed formula in the Court approved debt Composition Plan.
MCB’s – A COMPANY VIEW
MCB’s should be viewed as an entitlement offered by the Company to existing shareholders to enable them prevent future dilution of their stake.
This will give them the right to purchase 23089 units of OWK rights (at a denomination of Rp1/OWK unit) for every 100 share (1 lot) they hold.
The proceeds then enable the Company to settle the outstanding MCB’s.
The recording date for OWK rights is 26 May’17 for the proposed AGM’16 planned for 16 June’17.
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PT. BUMI RESOURCES Tbk.
Bakrie Tower Lt. 12
Komplek Rasuna Epicentrum
Jl. H. R. Rasuna Said
Karet Kuningan, Setiabudi
DKI Jakarta 12940
©2024 PT. BUMI RESOURCES Tbk.
