PT Jhonlin Baratama increases share acquisition of Bayan Resources

PT Bayan Resources Tbk has updated its Conditional Share Purchase Agreement (PJBS) regarding a major share transfer to PT Jhonlin Baratama. The number of shares to be acquired by PT Jhonlin Baratama has increased from the original 10,000,000,500 shares to 10,084,088,370 shares, representing an addition of approximately 84 million shares.

The transaction involves the sale of shares by Dato' Low Tuck Kwong and Elaine Low to PT Jhonlin Baratama, a company associated with businessman Andi Syamsuddin Arsyad, also known as Haji Isam. The amendment to the agreement was signed on October 1, 2026, following the initial agreement signed in September 2026.

Management of PT Bayan Resources Tbk stated that this transaction will not have a material negative impact on the company’s legal aspects, financial condition, operational activities, or business continuity.