Bumi Resources to Seek Shareholders' OK to Buy Back Shares

JAKARTA, KOMPAS.com - Thermal coal producer PT Bumi Resources said in a statement Wednesday it plans to hold an extraordinary meeting to seek shareholders' approval for its plan to buy back shares and sell a 75% stake in unit PT Bumi Resources Minerals.

The extraordinary meeting will be held on Aug. 23, the company said in a statement filed to the Indonesia Stock Exchange. The company didn't give any details on the number of shares that it plans to buy back from the market.