14 December 2013, Bumi announces the outcome of recent discusions on strategy and governance between the Company and Nat Rothschild, a significant shareholder in the Company.
Bumi said Mr. Rothschild has indicated a wish to support the separation and enter into a relationship agreement with the Company following completion which would grant Mr Rothschild the right to nominate an independent director for appointment to the Board.
The General Meeting will be held on Tuesday, 17 December 2013 in London. CEO Bumi Plc commented: "I am very pleased that Nat Rothschild, a founder shareholder, has chosen to support separation. Nat is a major investor in the Company and we look forward to working with his nominated independent director. This agreement will help us to deliver a value-accretive transaction which is the best interests of all shareholders. We all accept that a strong independent board is the best away to deliver shareholder value.'.
Mr Rothschild said, "My First priority, as before, will be to protect the interests of Bumi PLC's independent shareholders. With that mind, the best way I can currenctly influence the Company is to nominate a director to what will be an independent board dedicated to realising value. I have had full, constructive discussions with Samin Tan and Nick von Schirnding and we are united on the need to deliver value for all."
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