Sep 7, 2011

Trada Maritime buys Gunung Bara Utama

PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memorandum of understanding was signed on September 6 2011.
Awesome Coal was founded in Indonesia and controls 99.99% shareholding in PT Batu Kaya Berkat that owns 99.89% stake in PT Gunung Bara Utama  Gunung Bara has coal concession in Mantar, West Kutai, East Kalimantan. The transactions is subjet to extraordinary of shareholders meeting.

Disclosure: No position at the stock mentioned above.

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