PT Bumi Resources Tbk - Update
April 27 2011 - 10:24AM
UK Regulatory
TIDMVAA
Vallar PLC ("Vallar" or the "Company")
Symbol: VAA
27 April 2011
For immediate release
PT Bumi Resources Tbk("Bumi")- Cancellation of Sale and Purchase of shares of
Gallo Oil (Jersey) Ltd("Gallo")
Vallar notes the announcement made by Bumi on 26 April 2011 of the cancellation
of the transaction to sell 20 per cent of the shares in Gallo Oil to
Florenceville Financial Ltd. that was originally announced on 28 December 2009.
Vallar published a prospectus on 24 February 2011 that included historical
consolidated financial information relating to Bumi for the years ended 31
December 2008 and 2009. In those results for the year ended December 2009 Bumi
recorded a profit on disposal of USD283 million. In light of the cancellation
of the transaction to sell the stake, this profit on disposal will be reversed
in the results under IFRS for the year ended 31 December 2010.
For further information, please contact:
Vallar: 01534 728 235
Finsbury: Ed Simpkins, Clare Hunt 020 7251 3801
This announcement has been issued by and is the sole responsibility of the
Company.
END
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