GEAR TIMELINE
Obtained second concession, PT Kuansing Inti Makmur (“KIM”) in Jambi
GMR became a strategic shareholder and signed a 25-year coal off-take agreement
Completed statutory compliance placement on 9 December 2016
Entered into CSPA for 5th concession, PT. Barasentosa Lestari (“BSL”)
Maiden Interim Dividend paid out on 4 September 2017
Selective share capital reduction completed
Strategic alliance and capital injection of A$67.86million in Westgold Resources Limited (“Westgold”), Australia’s Top 10 gold producer listed on the ASX
Obtained first time rating of B+ with positive outlook by Fitch Ratings and B1 with stable outlook by Moody’s Investor Service.
Maiden bond issuance of 9% US$150,000,000 Senior Secured Notes due 2023.
Completed acquisition of BSL
Acquired 19.9% of Stanmore Coal Limited (“Stanmore”) – a Brisbane based metallurgical and thermal coal miner – and launched off-market takeover bid to acquire Stanmore
Secured term loan facility of A$150,000,000 with Credit Suisse AG, Singapore Branch
Off-market takeover bid concluded and with subsequent off-market block transaction, total stake in Stanmore increased to 28.42%
Divested interests in Westgold Resources Limited for profits
Second bond issuance of 8.5% US$285,000,000 Senior Secured Notes due 2026
Completion of Millennium and Mavis Downs Mine acquisition on 13 July 2021
Signed Share Purchase Agreement with BHP Minerals to acquire 80% interest in BHP Mitsui Coal
Acquisition of remaining stake (~20%) in GIAPL from ascend
Raised net proceeds of S$86.4 million with placement of 285 million new ordinary shares at S$0.305 each
Bond Retap of US$90M in addition to existing US$285M, 8.5% Senior Secured Notes due 2026
Fitch reaffirms GEAR’s credit rating at ‘B+’ and revise outlook on GEAR from Stable to Positive
Completion of Stanmore Resources Limited’s acquisition of 80% interest in BHP Mitsui Coal Pty Ltd (now known as Stanmore SMC Pty Ltd – “SMC”)
Executed definitive share sale agreement for Stanmore to acquire remaining 20% interest in SMC held by Mitsui & Co. (Australia) Ltd and Mitsui & Co., Ltd (together, “Mitsui”)
Stanmore completed acquisition of remaining 20% interest in SMC from Mitsui. SMC is now a wholly-owned subsidiary of Stanmore