TIDMBUMI

RNS Number : 2170J

Bumi plc

28 June 2011

Bumi plc

28 June 2011

For immediate release

Effectiveness of Scheme of Arrangement and Cancellation of Vallar AGM

Bumi plc becomes the new premium listed parent company of Vallar PLC

Further to Vallar’s announcements of 14 June 2011 and 17 June 2011, Bumi plc announces that the scheme of arrangement approved by Vallar’s shareholders on 7 April 2011 was sanctioned by the Jersey Court on 27 June 2011 and today becomes effective, with Bumi plc thereby being established as the new parent company of Vallar.

Capitalised terms not otherwise defined in this announcement have the same meanings given to them in the circular sent by Vallar to its shareholders on 10 March 2011 in respect of the Scheme.

In accordance with the terms of the Scheme, today, at the Scheme Effective Time: the issued share capital of Vallar will be reduced by cancelling and extinguishing all the Scheme Shares and the New Shares will be allotted and issued to the Company; and in consideration of the cancellation of the Scheme Shares and the allotment and issue of the New Shares to the Company, the Company will allot and issue Bumi Shares to the Scheme Shareholders on the following basis:

— one Bumi Voting Ordinary Share for each Vallar Voting Ordinary Share held at the Scheme Record Time; and

— one Bumi Suspended Voting Ordinary Share for each Vallar Suspended Voting Ordinary Shares held at the Scheme Record Time.

Applications have been made to the UK Listing Authority for 135,879,378 new Bumi Voting Ordinary Shares to be admitted to the premium listing segment of the Official List of the UK Listing Authority and to London Stock Exchange plc for 135,879,378 new Bumi Voting Ordinary Shares to be admitted to trading on the London Stock Exchange’s main market for listed securities .

These applications for Admission do not relate to any Bumi Voting Ordinary Shares to be allotted and issued in connection with the Bumi Resources Step-up Acquisitions . It is expected that applications will be made for the Step-Up Shares to be admitted to the premium listing segment of the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange’s main market for listed securities on or around 5 July 2011.

It is expected Admission will become effective, and that dealings will commence, at 8.00 a.m., today, 28 June 2011.

For the purposes of the Financial Services Authority’s Disclosure and Transparency Rules, upon Admission the total number of voting rights in the Company will be 135,879,378. The total number of Ordinary Shares will be 209,712,632 .

The above total voting rights figure of 135,879,378 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the voting rights of the Company, under the Disclosure and Transparency Rules.

It is expected that share certificates in respect of any Bumi Shares held in certified form will be dispatched to the holders of such shares by 12 July 2011.

Cancellation of Vallar AGM

In view of the Scheme becoming effective and the fact that Vallar is now a wholly owned subsidiary of Bumi plc, and as proposed in Vallar’s circular to its shareholders dated 1 June 2011, the Company announces that the Vallar annual general meeting convened to be held on 29 June 2011 will now be cancelled. All forms of proxy returned in respect of the Vallar AGM shall accordingly be disregarded. The next annual general meeting of the Company is expected to be held prior to the end of June 2012.

For further information, please contact:

Vallar: 020 7518 8189

Nick von Schirnding

J.P. Morgan Cazenove: 020 7588 2828

Ian Hannam

James Taylor

Neil Passmore

Finsbury: 020 7251 3801

Ed Simpkins

Charles Chichester

This announcement has been issued by and is the sole responsibility of the Company.

This announcement is an advertisement and not a prospectus and you should not subscribe for or purchase any shares referred to in this announcement except on the basis of information in the prospectus published by the Company on 17 June 2011 , as the new premium listed parent company of Vallar, in connection with the admission and proposed admission of certain of its ordinary shares to the premium listing segment of the Official List of the Financial Services Authority and to trading on London Stock Exchange plc’s main market as more particularly described in the Bumi Prospectus. Copies of the Bumi Prospectus are available for inspection at the Company’s registered office at 2 Floor, Ibex House, 42-47 Minories, London, EC3N 1DX.

J.P. Morgan Limited , which is authorised and regulated by the Financial Services Authority, is acting as Sole Sponsor for the Company in connection with the Bumi Prospectus and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove.

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of, any securities.

The securities of the Company referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended , and may not be offered or sold in the United States unless they are registered with the U.S. Securities and Exchange Commission or an exemption from the registration requirements of the Securities Act is available.

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security, therefore this announcement does not constitute a public offering in Indonesia under Law Number 8 of 1995 regarding Capital Market.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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