2015 Annual and Extraordinary General Meeting of Shareholders PT Golden Eagle Energy Tbk

2015 Annual and Extraordinary General Meeting of Shareholders PT Golden Eagle Energy Tbk

Jakarta, June 10, 2015 – PT Golden Eagle Energy Tbk (SMMT or the Company) today held the Annual General Meeting of Shareholders (AGMS) to report the fiscal year ended December 31, 2014. Annual financial report has been well received well, confirmed, and agreed in AGMS. At the same time, the Company also held Extraordinary General Meeting of Shareholders (EGMS).

EGMS approved the amendments to the Articles of Association to conform with the OJK Regulation No. 32/POJK.04/2014 on the Planning and Implementation of the General Meeting of Shareholders for Public Company and OJK Regulation No. 33/POJK.04/2014 on the Board of Directors and Board of Commissioners of Public Company, as well as agreeing to accept the resignation of Mr. Stephen K. Sulistyo from his position as Commissioner as of the conclusion of the Meeting.

During public expose, Hendra Surya, the President Director of the Company, announced the business expansion done through subsidiary of the Company, PT International Prima Coal (IPC). On May, IPC officially acquired 34.17% ownership on both PT Tabalong Prima Resources and PT Mitra Hasrat Bersama. “The acquisition is in line with our vision to be a leading mining company with sustainable business growth.” Said Hendra.

PT Tabalong Prima Resources are holders of Production Operation Mining Permit (IUP-OP) coal concession area covering 3,145 hectares located in Tabalong, South Kalimantan, with total coal resources (JORC) amounted to 292 million tons and coal reserves (JORC) amounted to 109 million tons. Meanwhile, PT Mitra Hasrat Bersama is the owner of the coal landing assets (including stockpile and jetty equipped with conveyor system) covering 60 hectares located in the district of South Barito, Central Kalimantan. PT Tabalong Prima Resources is integrated with PT Mitra Hasrat Bersama through ownership of the hauling road connecting concession area with docking infrastructure.

Furthermore, Hendra said that this transaction is an early stage of IPC’s plan to control the majority ownership of the two companies. “The process will be phased in accordance with the fulfillment of the terms that have been agreed upon.” Said Hendra.

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