18th Feb 2013 08:34
18 February 2013
Bumi plc
Statement by the Recapital Group
Bumi plc (the "Company") notes the announcement by PT Recapital Advisors ("Recapital") and PT Bukit Mutiara ("Mutiara" and together with Recapital, the "Recapital Group") of earlier today regarding their sale of 24,203,452 voting ordinary shares (c. 13.40 per cent. of the voting share capital of the Company) representing their entire holding in the Company. The Company also notes that this is in accordance with the UK Panel on Takeovers and Mergers' ruling of 19 December 2012. The full text of the Recapital Group announcement is attached.
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Bumi plc ("Bumi")
18 February 2013
Statement by the Recapital Group re Bumi plc
PT Recapital Advisors ("Recapital") and PT Bukit Mutiara ("Bukit Mutiara") (together the "Recapital Group") announce that they have today agreed to dispose of their entire holding of 24,203,452 ordinary shares in Bumi ("Shares").
The purchasers of the Shares ("Purchasers") are as follows:
-Avenue Luxembourg S.A.R.L. has agreed to acquire 13,667,250 Shares. Avenue Luxembourg S.A.R.L.is a company that makes investments for a fund managed by Avenue Asia Capital Management L.P.;
-Flaming Luck Investments Limited, a company controlled by the Tanoesoedibjo family of Indonesia, has agreed to acquire 3,000,000 Shares; and
-funds managed by Argyle Street Management Limited have agreed to acquire 7,536,202 Shares.
The Panel Executive has confirmed to the Recapital Group and the Purchasers that it has ruled as follows:
a) the Panel Executive does not consider the Purchasers to be acting in concert with any of the Recapital Group, the Bakrie Group or Borneo nor with persons acting in concert with Recapital Group, the Bakrie Group or Borneo;
b) provided that the Purchasers or their nominees are entered in the register of members of Bumi by 6pm on 19 February 2013 (or, if the general meeting of Bumi convened for 21 February 2013 at 11.00 am ("General Meeting") is adjourned, in the register of members 48 hours before the time of any adjourned meeting), the Purchasers will not, in respect of the General Meeting (or any adjournment thereof), be subject to the restriction on votes ("Voting Restriction") which would otherwise apply in accordance with Rule 9.7 of the UK Takeover Code (the "Code") pursuant to the ruling of the Panel Executive announced in the December Panel Announcement; and
c) for the purposes of determining the number of ordinary shares in Bumi to which the Voting Restriction applies, no account shall be taken of the Shares.
In this announcement "Bakrie Group" and "Borneo" bear the same definitions as in the announcement of the Takeover Panel issued on 19 December 2012 ("December Panel Announcement").
Related Shares:
ARMS.L