Asia Resource Minerals plc (“Asia Resource Minerals “ or the “Company”) was formed on 28 June 2011. Prior to this Vallar plc was formed in March 2010 to acquire a single major company, business or asset with significant operations in the global metals, mining and resources sector.
Vallar raised gross proceeds of £707 million through an initial public offering and was listed on the standard listing segment of the Official List and was admitted to trading on the London Stock Exchange in July 2010.
Vallar announced its intention to acquire 75% of the share capital of Berau Coal and 25% of the share capital of Bumi Resources Group for an aggregate consideration of c.$3.0 billion (made up of a combination of cash and new Bumi shares) on 16 November 2010. These acquisitions were completed on 8 April 2011 and 4 March 2011 respectively.
- On 7 April 2011 Vallar’s shareholders approved a scheme of arrangement to put in place a new parent company for the Bumi Group, Bumi plc.
- On 17 December 2013 Bumi plc’s shareholders voted to change the company’s name to Asia Resource Minerals plc.
- On 25 March 2014 we announced the completion of the Separation Transaction which involved the disposal of our 29.2% stake in PT Bumi.