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Jumat, 12 Agustus 2011

BUMI to Buyback Shares - The Indonesia Today

PT Bumi Resources (BUMI) Tbk will ask shareholders' approval for the proposed shares buyback program.

BUMI said in a letter to the Capital Market Supervisory Agency (Bapepam) today that the company invites an extraordinary meeting of shareholders on September 26, 2011.

BUMI also seeks shareholders' approval for its plan to sell its shares in PT Bumi Resources Minerals (BRMS) Tbk.

According to the schedule provided to Bapepam, BUMI will publish the material transaction and shares buyback program on August 18, 2011.

BUMI shares closed flat at Rp2,700 Thursday (Aug 11), while Bumi Resources Minerals ended lower by 2.82%. BUMI is now traded 26% below its peak of Rp3,650 in May 2011.

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