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GEMS targets IDR 58.82 billion of fresh funds through rights issue

03 December 2020 13:48

JAKARTA - PT Golden Energy Mines Tbk (GEMS) is eyeing fresh funds of IDR 58.82 billion by issuing 588,235,3000 new shares via rights issue on January 10-February 17, 2021. This plan has been approved at the Extraordinary General Meeting of Shareholders (EGMS) on August 12, 2020.

Quoted from the short prospectus, published on Thursday (3/12), GEMS management would use the proceeds from this corporate action for loans to subsidiaries as working capital, such as 50% for PT Barasentosa Lestari (BSL), 40% for PT Borneo Indobara. (BIB), and 10% for the company's working capital.

As of October 30, 2020, GEMS recorded an authorized capital of IDR 2 trillion, and issued and paid-up capital of IDR 588.23 billion; with shareholder structure included 66.9998% Golden Energy and Resources Limited, 30.00% GMR Coal Resources Pte Ltd, 0.0002% PT Sinar Mas Cakrawala, and 3.00% public. After this corporate action, the shareholder structure will be 60.91% Golden Energy and Resources Limited, 27.27% GMR Coal Resources Pte Ltd, 0.00% PT Sinar Mas Cakrawala, and 11.82% public. (LK/VA)

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