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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