Troubled coal mining company Bumi plc is to hold an Extraordinary General Meeting this Thursday, 21 February, to decide on Nat Rothschild’s proposal to throw out nearly all of the company’s current directors and replace them with new ones. Investors have been taking sides – see http://londonminingnetwork.org/2013/02/drama-at-bumi-misses-the-point/ – and a protest is being planned outside the EGM to draw attention to the human rights abuses and environmental destruction that the directors and investors are NOT talking about.Hey Bumi- stop violating human rights and destroying the environment! PROTEST!!
Protest outside Bumi’s Extraordianry General Meeting, this Thursday, 21 February, at The Honourable Artillery Company, Armoury House, City Road, London EC1Y 2BQ.
See http://www.facebook.com/events/156094521211978/.
Bakries urge Panel to move on Bumi affair
The Bakrie brothers have broadened their campaign against the troubled coal miner they helped set up  with financier Nat Rothschild, saying the “Bumi affair”  had damaged London’s reputation with emerging market investors. Bumi has been riven with conflict since it was created in November 2010 when the Bakries reversed some of their Indonesian coal mining assets into financier Nat Rothschild’s London-listed cash shell. The Takeover Panel ruled in December that there had been improper disclosure about the relationship between two key shareholders, the Bakrie brothers and Rosan Roeslani, and that they had been acting “in concert”.
See http://www.standard.co.uk/business/business-news/bakries-urge-panel-to-move-on-bumi-affair-8493102.html.
Indonesia’s Roeslani sells stake Bumi ahead of vote
Indonesian investor Rosan Roeslani has agreed to sell his almost 10 percent holding in Bumi Plc, just days ahead of a key shareholder meeting that could decide the future of the embattled London-listed coal miner. Bumi’s founders, one-time partners financier Nat Rothschild and Indonesia’s powerful Bakrie family, have been at loggerheads for months over the future of one of the world’s top thermal coal exporters, locked in an increasingly bitter battle.
See http://www.mineweb.com/mineweb/content/en/mineweb-fast-news?oid=178192&sn=Detail.