Bayan to seek shareholder approval for board changes on 23 November
The proposed changes follow PT Jhonlin Baratama’s acquisition of a 30.25 per cent stake from Low Tuck Kwong and Elaine Low.
Indonesian coal company PT Bayan Resources Tbk (BYAN) plans to put changes to its board of directors and board of commissioners to shareholders at an extraordinary general meeting on 23 November 2026, according to a disclosure to the Indonesia Stock Exchange.
The company has not named the directors or commissioners whose positions would change. Shareholders will vote separately on the composition of each board. Bayan said appointments, dismissals and replacements, including resignations, fall within the authority of a general shareholders’ meeting.
The meeting is scheduled for 14.00 WIB at the Fairmont Hotel’s Jade Room in Jakarta. Eligibility to attend or appoint a representative is based on the shareholder register as at 16.15 WIB on 29 October 2026.
Shareholders can participate in person or through KSEI’s eASY.KSEI platform. Electronic attendance declarations, proxy appointments and votes must be submitted before 12.00 WIB on 20 November 2026. PT Raya Saham Registra has been appointed as an independent party to receive electronic proxies and votes.
The planned votes follow a share purchase by PT Jhonlin Baratama, a company owned by Haji Isam. It acquired 10,084,088,370 Bayan shares from Dato’ Low Tuck Kwong and his daughter Elaine Low, giving it 30.25 per cent of Bayan’s issued and paid-up capital after completion. The exchange disclosure recorded a price of Rp2,588 per share on 8 October 2026, with the transaction valued at Rp26,097,380,221,560.
