GEAR TIMELINE

1997
1997

Incorporated in Indonesia under the name PT Bumi Kencana Eka Sakti. The company is primarily engaged in coal mining and coal trading.
2006
2006

Obtained first coal concession, PT Borneo Indobara (“BIB”) in South Kalimantan

2009
2009

Obtained second concession, PT Kuansing Inti Makmur (“KIM”) in Jambi

2009

South Kalimantan Mining

Became a wholly-owned subsidiary of PT Dian Swastatika Sentosa Tbk (“DSS”)

 

2010
2010

The company was renamed as PT Golden Energy Mines Tbk on16 November 2010 – Obtained third concession, PT Trisula Kencana Sakti (“TKS”) in Central Kalimantan

2011
2011

GEMS was listed on the Indonesia Stock Exchange in Nov 2011

2011

GMR became a strategic shareholder and signed a 25-year coal off-take agreement

2015
2015

UFS acquired 66.9998% of GEMS on 20 April 2015

2015

UFS renamed as Golden Energy and Resources Limited (GEAR) on 21 April 2015 following completion of the RTO of UFS on 20 April 2015

2016
2016

Completed statutory compliance placement on 9 December 2016

2016

Resume listing on SGX-ST Main Board on 12 December 2016

2017
2017

Entered into CSPA for 5th concession, PT. Barasentosa Lestari (“BSL”)

2017

Maiden Interim Dividend paid out on 4 September 2017

2017

Selective share capital reduction completed

2018
2018

Strategic alliance and capital injection of A$67.86million in Westgold Resources Limited (“Westgold”), Australia’s Top 10 gold producer listed on the ASX

2018

Obtained first time rating of B+ with positive outlook by Fitch Ratings and B1 with stable outlook by Moody’s Investor Service.

2018

Maiden bond issuance of 9% US$150,000,000 Senior Secured Notes due 2023.

2018

Completed acquisition of BSL

2018

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

2018

Secured term loan facility of A$150,000,000 with Credit Suisse AG, Singapore Branch

2019
2019

Off-market takeover bid concluded and with subsequent off-market block transaction, total stake in Stanmore increased to 28.42%

2019

Launched GEAR Innovation Network (“GIN”) on 29 April 2019, supported by the Singapore Economic Development Board, to focus on digital technologies to transform capital expenditure-intensive industries

2019

Incorporated on 16 May 2019, GEAR Renewables Pte. Ltd. seeks to invest in renewable energy projects, with the aim of becoming carbon neutral