GEAR TIMELINE
Obtained first coal concession, PT Borneo Indobara (“BIB”) in South Kalimantan
Became a wholly-owned subsidiary of PT Dian Swastatika Sentosa Tbk (“DSS”)
Obtained second concession, PT Kuansing Inti Makmur (“KIM”) in Jambi
The company was renamed as PT Golden Energy Mines Tbk on16 November 2010 – Obtained third concession, PT Trisula Kencana Sakti (“TKS”) in Central Kalimantan
GEMS was listed on the Indonesia Stock Exchange in Nov 2011
GMR became a strategic shareholder and signed a 25-year coal off-take agreement
UFS acquired 66.9998% of GEMS on 20 April 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
Completed statutory compliance placement on 9 December 2016
Resume listing on SGX-ST Main Board on 12 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
Secured term loan facility of A$150,000,000 with Credit Suisse AG, Singapore Branch
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
Off-market takeover bid concluded and with subsequent off-market block transaction, total stake in Stanmore increased to 28.42%
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
Incorporated on 16 May 2019, GEAR Renewables Pte. Ltd. seeks to invest in renewable energy projects, with the aim of becoming carbon neutral
Acquired Ravenswood Gold in Queensland, Australia, marking the Group’s second investment in gold in Australia (50-50 JV with EMR Capital)
GEAR through our subsidiary, Golden Investments (Australia) Pte Ltd increased shareholding in Stanmore Coal from 31.35% to 75.33%
Divested interests in Westgold Resources Limited for profits