Bumi plc Company Announcement (9404M)
September 24 2012 - 2:01AM
UK Regulatory
TIDMBUMI
RNS Number : 9404M
Bumi plc
24 September 2012
Monday 24 September, 2012
Bumi plc
24 September 2012
Bumi plc
("Bumi" or the "Company")
24 September 2012
For Immediate Release
The Company has become aware of allegations concerning, among
other matters, potential financial and other irregularities in the
Company's Indonesian operations, especially in relation to PT Bumi
Resources Tbk, in which the Company has approximately a 29 per
cent. interest.
An independent investigation has been commissioned to
investigate the allegations on an urgent basis, and is to report to
the Board. The Company also intends to contact relevant authorities
in the UK and Indonesia, as appropriate, in respect of some of the
allegations.
An area of focus of the investigation will be the development
funds of PT Bumi Resources Tbk. The extensive development funds in
PT Bumi Resources Tbk and the one development asset in PT Berau
Coal Energy Tbk were marked down to zero in the accounts of Bumi
plc as at 31 December 2011, except for one investment with a
carrying value of $39 million in the consolidated financial
statements.
A further announcement will be made in due course.
For further information, please contact:
Bumi plc
Nick von Schirnding
Tel: +44 (0) 20 7201 7507
Finsbury
Ed Simpkins
Tel: +44 (0) 20 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGURCBUPPUAC
Asia Resource (LSE:ARMS)
Historical Stock Chart
From May 2024 to Jun 2024
Asia Resource (LSE:ARMS)
Historical Stock Chart
From Jun 2023 to Jun 2024