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Last 37.25 GBp
Change Today +8.50 / 29.57%
Volume 2.7M
ARMS On Other Exchanges
As of 11:35 AM 04/21/15 All times are local (Market data is delayed by at least 15 minutes).

asia resource minerals plc (ARMS) Snapshot

31.50 GBp
Previous Close
28.75 GBp
Day High
37.75 GBp
Day Low
31.00 GBp
52 Week High
06/30/14 - 99.00 GBp
52 Week Low
12/19/14 - 3.61 GBp
Market Cap
Average Volume 10 Days
-0.67 GBp
Shares Outstanding
Dividend Yield

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asia resource minerals plc (ARMS) Details

Asia Resource Minerals plc, through its subsidiaries, explores for, mines, and processes thermal coal, as well as explores for and develops mineral mining concessions in Indonesia. It has three principal open cut coal mining operations, including Lati, Binungan, and Sambarata that are located in an 118,400 hectare concession area in East Kalimantan. The company supplies coal to utility companies, coal trading companies, and power plants in Mainland China, Indonesia, Hong Kong, India, South Korea, Taiwan, and rest of Asia. The company was formerly known as Bumi plc and changed its name to Asia Resource Minerals plc in December 2013. Asia Resource Minerals plc was incorporated in 2010 and is based in London, the United Kingdom.

1,352 Employees
Last Reported Date: 04/11/14
Founded in 2010

asia resource minerals plc (ARMS) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

asia resource minerals plc (ARMS) Key Developments

SUEK And NR Holdings Eyeing ARMS

SUEK PLC and NR Holdings Limited are planning to make an offer for Asia Resource Minerals plc (LSE:ARMS) (ARMS). Nat Rothschild's NR Holdings and SUEK said that they are considering a possible cash offer to acquire ARMS, conditional on shareholders voting in favor of recapitalization backed by Rothschild. Asia Resource Minerals had said earlier that a formal takeover offer is yet to materialize from Asia Coal Energy Ventures Limited, backed by PT Sinar Mas Group and Argyle Street Management Limited. Rothschild has offered to underwrite a $100 million equity fundraising through an open offer priced at 25 pence per share. NR Holdings said it believes that this refinancing is the only options currently available that will ‘preserve value for ARMS shareholders in the short to medium term’. NR Holdings said that it understands that ‘certain shareholders may prefer to sell their shares at a premium to the current share price and not to remain long-term shareholders in ARMS,’ hence why it is considering an offer. However, it is making any potential offer subject to the recapitalization being passed on April 22, 2015, and noted that even if the recapitalization is passed it is under no obligation to make any offer. Under UK takeover code, NR Holdings and SUEK must announce a firm intention to make an offer or walk away by May 18, 2015. If the two do make an offer, they will form a jointly owned special purpose vehicle. Asia Coal Energy Ventures maintains that it intends to make an offer for ARMS and such an offer would be funded by Sinar Mas. Recent announcement indicated that Asia Coal Energy Ventures would be willing to pay 41 pence per share for the ARMS shares not already owned by Argyle Street. A source close to ARMS said that Asia Coal Energy Ventures' move appears to be designed to derail the refinancing deal already on the table. A spokesperson for Asia Coal Energy Ventures said that the company intends to make an offer and the discussions are going on with ARMS shareholders. Asia Resource Minerals shares were up 3.1% at 29.25 pence.

Asia Resource Minerals plc Announces Executive Changes

Asia Resource Minerals plc announced that the Mr. Amir Sambodo agreed to step down as CEO of ARMS and as President Director of PT Berau Coal Energy Tbk and of PT Berau Coal with immediate effect. Mr. Sambodo has agreed to remain available for consultation by the company until May 2016. The Board of ARMS announced that Hamish Tyrwhitt has agreed to be appointed CEO, and as CEO-designate of companies in Indonesia.

ARMS Reaches Agreement of Restructuring of the 12.5% Guaranteed Senior Secured Notes Due 2015

ARMS announced that it has reached in principle agreement with the following parties regarding the terms of a restructuring of the 12.5% Guaranteed Senior Secured Notes due 2015 issued by Berau Capital Resources Pte Ltd. and the 7.25% Guaranteed Senior Secured Notes due 2017 issued by PT Berau Coal Energy Tbk. Certain persons holding approximately 23.7% of the outstanding principal amount of the Notes; and NR Holdings Limited and its advisors. The Steering Committee was constituted from an informal working group of persons holding approximately 50.6% of the outstanding principal amount of the Notes. The Proposed Notes Exchange, together with the proposed raising of gross proceeds of USD 100 million by the issue of new equity at a price of Pound 0.25 per share by ARMS by means of an open offer underwritten by NRH as previously announced on February 9, 2015, constitute a comprehensive recapitalization which would create a more stable capital structure for the benefit of all stakeholders.


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