(MENAFNEditorial)
JAKARTA May 21 2015—Sinarmas Group’s plan to take over Asia Resources Minerals Plc. through its subsidiary Asia Coal Energy Ventures Limited. received support from tycoon Hary Tanoesoedibjo.
The owner of MNC Group through his investment company HT Investment Development Limited. supports the plan of Asia Coal Energy Ventures Limited (ACE) to acquire the parent company of PT Berau Coal Energy Tbk. (BRAU).
“It is a good plan and as a shareholder I would certainly agree with such a good plan” he said Wednesday (5/20/2015).
HT Investment has signed a letter of intent stating the company intends to vote in favor of the resolution which will be proposed at the shareholder meeting of ARMS.
Reuters Monday (11/5) reported that HT Investment also intends to reject any resolution that could prevent or hinder the ratification of the proposal that had already been filed. Currently HT Investment already has 3 million common shares in ARMS.
The company formerly known as Flaming Luck Investments Limited is owned by Tanoesoedibjo family. Until the end of March 2015 HT Investment obtained 36.83% shares in PT MNC Investama Tbk. (BHIT) an investment holding company owned by Hary Tanoesoedibjo.
ARMS previously said it would perform the shareholder meeting on May 14 2015 to discuss the offer of cash injection from NR Holdings Limited that is controlled by Nathaniel Rothschild and ACE. However the plan was postponed until an undetermined time. One of the reasons is because the company wanted to review such offer from ACE. Read more..
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