Bumi, Plc

The Company is a leading FTSE listed thermal coal group with interests in the largest coal-producing assets in Indonesia - the world's largest seaborne coal exporting nation.

The Company’s primary activity is to explore, mine and process coal and other minerals through its 85% holding in Berau Coal and 29.2% holding in Bumi Resources Group, which owns 87% of Bumi Resource Minerals (BRM), a diversified mining group with a pipeline of projects spanning a number of base and precious metals.

The Board

The Board comprises the Chairman (Samin Tan), the Co-Chairman (Indra Bakrie), two Executive Directors (Nalin Rathod and Scott Merrillees) and eleven Non-executive Directors (Rosan Roeslani, Sir Julian Horn-Smith, Lord Robin Renwick, Steven Shapiro, Sir Graham Hearne, Amir Sambodo, Philip Yeo, Sony B. Harsono, Graham Holdaway, Jean-Marc Mizrahi and Alexander Ramlie), nine of whom (excluding Rosan Roeslani and Alexander Ramlie) are considered to be independent. Sir Julian Horn-Smith has been appointed as Senior Independent Director.

The Board has adopted a formal schedule of matters specifically reserved for its decision. The division of responsibilities between the Chairman, Chief Executive Officer and Senior Independent Director has been set out in writing and approved by the Board.

The Board will hold meetings at least four times a year with the Company Secretary in attendance.

Samin Tan, Chairman

Indra Bakrie, Co-Chairman

Nalin Rathod, Chief Executive Officer & Executive Director

Scott Merrillees, Chief Financial Officer & Executive Director

Rosan Roeslani, Non-Executive Director

Alexander Ramlie, Non-Executive Director

Sir Julian Horn-Smith, Deputy Chairman & Senior Independent Director

Lord Renwick, Independent Non-Executive Director

Steven Shapiro, Independent Non-Executive Director

Sir Graham Hearne, CBE, Independent Non-Executive Director

Amir Sambodo, Independent Non-Executive Director

Philip Yeo, Independent Non-Executive Director

Sony B. Harsono, Independent Non-Executive Director

Graham Holdaway, Independent Non-Executive Director

Jean-Marc Mizrahi, Independent Non-Executive Director

Paul Vickers, General Counsel and Company Secretary

Executive Management

Nalin Rathod, Chief Executive Officer & Executive Director

Scott Merrillees, Chief Financial Officer & Executive Director

Daren Morris, Group Head of Mergers and Acquisitions

Nick von Schirnding, Group Head of Corporate Affairs & Investor Relations

Paul Vickers, General Counsel and Company Secretary

Strategy
Our aim is to be the leading UK listed thermal coal producer, serving growth markets across the globe with a particular focus on Asia.
Our strategy is to:

• Deliver on one of the largest thermal coal expansions in the industry
• Optimise our asset base
• Lower our cost of capital
• Enhance corporate governance across the Group

The main thrust of our strategy is to deliver on what is acknowledged to be the most significant expansion programme in the industry.  In 2011, PT Berau and PT Gumi mined 85m tonnes of thermal coal, and this is planned to increase to around 140m tonnes by 2014.  PT Berau and PT Bumi are currently on track to achieve this stated target, and a significant amount of new infrastructure is being installed in the key operating units of PT Berau, KPC and Arutmin.
Another key aspect of our strategy focuses on optimising our asset base.  Although we occupy a very competitive cost position, with the majority of operations in the first or second cost quartiles, we believe there is scope to further improve the way we operate.  To this end, in August 2011 we announced a Group wide benchmarking review of all our coal mining operations.
The final strand of our strategy is to lower the Wider Group's underlying level and cost of debt.  We recognise the need to lower the net debt position of our associate, PT Bumi, and are exercising our influence to address this.  In October 2011, PT Bumi announced it would reduce its debt levels by recouping certain loans and investments and in November 2011 it refinanced $600m of the China Investment Corporation ("CIC") debt, thereby reducing its annual interest expense.

Background

Bumi plc (“Bumi” or the “Company”) was formed on June 28 2011. Prior to this Vallar plc was formed in March 2010 to acquire a single major company, business or asset with significant operations in the global metals, mining and resources sector.
Vallar raised gross proceeds of £707 million through an initial public offering and listed on the standard listing segment of the Official List and admitted to trading on the London Stock Exchange in July 2010.
Vallar announced its intention to acquire 75% of the share capital of Berau Coal and 25% of the share capital of Bumi Resources Group for an aggregate consideration of c.$3.0 billion (made up of a combination of cash and new Bumi shares) on 16 November 2010. These acquisitions were completed on 8 April 2011 and 4 March 2011 respectively.
On 7 April 2011 Vallar’s shareholders approved a scheme of arrangement to put in place a new parent company for the Bumi group, Bumi plc.

berita terkait Bumi, Plc

REPUBLIKA.CO.ID, SINGAPURA - Perusahaan batubara Indonesia yang sahamnya berbasis di London, Bumi Plc, menerima usulan PT Bakrie and Brothers Tbk (BNBR) dalam pertemuan direksi di Singapura pekan ini. Usulan tersebut terkait pertukaran saham secara afiliasi dengan PT Bumi Resources Tbk (BUMI).

Dengan adanya penukaran saham tersebut, maka kepemilikan saham keluarga Bakrie di Bumi Plc akan habis. Bumi Plc adalah perusahaan patungan yang didirikan oleh Nathaniel Rothschild bersama Bakrie Group. Rotschild memiliki 29 persen saham di Bumi Resources.

Manajemen Bumi Plc menyatakan Bakrie Group dan Long Haul Holdings Ltd, keduanya merupakan pemegang saham di Bumi Plc, menawarkan penukaran 23,8 persen saham di Bumi Plc untuk 10,3 persen saham Bumi Resources.

SPC, London – Grup Bakrie tampaknya harus bersabar untuk segera bisa membeli saham PT Bumi Resources Tbk (BUMI) dan PT Berau Coal Energy Tbk (BRAU) dari tangan Bumi Plc. Pasalnya, Bumi Plc tidak akan memberikan rekomendasi apapun atas penawaran Grup Bakrie sampai ada perkembangan dalam penyelidikan dugaan penyelewengan keuangan di Bumi Resources.

Bukan hanya itu saja. Bumi Plc juga membutuhkan waktu untuk mengkaji proposal penawaran Grup Bakrie tersebut. Bumi Plc sendiri telah meminta direktur non eksekutif independen untuk mengevaluasi proposal penawaran tersebut.

Bumi Plc juga telah menunjuk Rothschild Group mengevaluasi penawaran tersebut. “Tujuan kami ingin memastikan setiap pemegang saham mendapat perlakuan yang adil,” kata Direktur Senior Independen Bumi Plc Julian Horn-Smith, seperti dikutip Kamis (18/10/2012).

Seperti diketahui, hubungan para pemegang saham Bumi Plc memanas setelah mengumumkan pembentukan tim investigasi independen untuk menyelidiki dugaan penyelewengan keuangan di tubuh BUMI. Investigasi berfokus pada dana pengembangan yang besar di BUMI dan aset di BRAU.

Tim itu akan melaporkan hasil investigasinya ke direksi Bumi Plc. Mereka akan menghubungi otoritas pasar modal di Indonesia dan Inggris.

Setelah pengumuman rencana investigasi itu, direksi dari perwakilan Grup Bakrie Ari Sapta Hudaya mundur. Pada 11 Oktober 2012 lalu, Grup Bakrie kemudian mengajukan proposal pembelian saham BUMI dan BRAU yang dimiliki Bumi Plc.

Melalui anak usahanya PT Bakrie & Brothers Tbk (BNBR) dan Long Haul Holdings, Grup Bakrie berniat menukarkan kepemilikan 23,8% saham Bumi Plc dengan 10,3% saham (BUMI).

Selain itu, Grup Bakrie juga akan membeli secara tunai sisa saham BUMI yang dipegang oleh Bumi Plc paling lambat Natal 2012. Sisa saham yang akan dibeli tunai sebesar 18,9%. Catatan saja, Bumi Plc mengempit 29,18% saham BUMI.

Grup Bakrie ini juga menawarkan pembelian secara tunai saham BRAU yang dimiliki oleh Bumi Plc. Pembelian ini akan dilakukan dalam jangka enam bulan ke depan. Bumi Plc yang dulunya bernama Vallar Plc. ini memegang sekitar 84,7% saham BRAU.

Sumber: http://www.bumi-plc.com