Information Disclosure on the Sale and Transfer of Shares Owned by the Company in PT Tambang Batubara Harum

May 31, 2022
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On 30 May 2022, PT Harum Energy Tbk. (the “Company”) has sold and transferred 2.099 shares owned by the Company, which represents 69.97% of the issued and paid capital, of PT Tambang Batubara Harum (“PT TBH”), the Company’s subsidiary to PT Arkara Wira Sanjaya with a sale and purchase transaction value of IDR2.099.000.000. PT Arkara Wira Sanjaya is not affiliated with the Company.

At the same time, PT TBH will repay part of  its debt to the Company pursuant to the agreement among the Company, PT TBH and the purchaser.

The purpose of the transaction conducted by the Company is to improve efficiency where the Company can further focus its mining and mineral processing business only on the assets that are already operational and/or those which have promising long term growth prospect.  Until this time, PT TBH has not commenced commercial operations.

There is no material impact from the above sale and transfer of shares toward the operational activities, legal, financial condition or business continuity of the Company.