Charles Antonny Melati, executive chairman and CEO of Geo Energy says: “The completion of the first tranche of sale shares in March 2024, followed by the ahead-of-schedule completion of the second tranche in December 2024, underscores the tremendous value we have created and the vast growth potential of Geo Energy. ResInvest’s belief in our strategic direction bolsters our confidence and commitment to delivering even greater value to our shareholders, propelling us closer to becoming one of Indonesia’s leading coal producers.”
Geo Energy Resources announced that it has signed an agreement for Resource Invest (ResInvest), a private commodities investment company, to purchase the second tranche of 13,395,000 treasury shares at a sale price of 50 cents per share for an aggregate cash consideration of US$5 million ($6.8 million) and the issuance of 20,092,500 second tranche warrants with an exercise price of $1.00 per share to ResInvest, to be completed ahead of schedule on Dec 27.
Tomas Novotny, founding partner of ResInvest and chairman of EP Resources says: “We are pleased to increase our shareholding and deepen our strategic cooperation with Geo Energy. The Geo team is making excellent progress on its export infrastructure, underscoring the company's long-term success and value creation. We look forward to our continued collaboration, future co-investments, and mutual growth.”
