JAKARTA - PT Trada Alam Minera Tbk (TRAM) plans to increase capital through a rights issue worth Rp 10 trillion to develop a new mine.
This was stated by Soebianto Hidayat, President Director of TRAM after the Extraordinary General Meeting of Shareholders (EGM) of the company this afternoon (5/7).
"We want to build a new mining infrastructure, as well as build new roads and improvements in mining services as well," explained Soebianto.
For information, TRAM will issue 100 billion shares, equivalent to 201.43% of the company's issued and paid-up capital. Along with that, TRAM will also issue 14 billion Series III Warrants which will later be converted into 14 billion new shares.
Regarding the rights issue agenda, Soebianto still does not know when this new share will be issued, because TRAM is still waiting for the Feasibility Study for the new mine. For information, on May 2, 2019, the Company signed a partnership with a subsidiary of Adaro Group, PT Tri Alam Abadi, which runs logistics and mining infrastructure business. (LM)