Feb 22, 2012

Berau Coal: No plan for rights issue

Coal miner PT Berau Coal Energy Tbk (BRAU) today clarified that the company does not plan to hold rights issue.
According to the company's announcement published today, the issue of 3.40 billion new shares has been realized during the IPO last year.  
On Friday last week, the company said it was seeking an approval from its shareholders regarding to a transfer authority to board of commissioner for 3.40 billion of new shares issuance or nearly 10% of outstanding shares.
Such matter will be discussed during an extraordinary general meeting (EGM) on March 6 2012 with two other agendas, said Berau's management in a disclosure to Indonesia Stock Exchange late last week.

Disclosure: No position at the stock mentioned above.

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