Macro Corporation Limited (MAC) through its wholly owned subsidiary Macro Resources Pty Ltd (“MRPL”) has entered into a conditional agreement for the acquisition of the entire issued and paid up capital of PT Gunung Sungkai (“PTGS”). PTGS is a company incorporated in Indonesia that holds the exploration rights (IUP Eksplorasi) to an area of 5,000ha in Malinau Selatan, South Kalimantan.
The Company is in the process of finalising a Notice of General Meeting to put all necessary resolutions to shareholders to approve, amongst other things, the sale of the residual tourism business assets (Ocean Spirit IV vessel), approve the change of nature and scale of the Company’s operations to coal exploration and mining and approve the acquisition of interests in PT Samar Jaya Cemerlang (Indonesia) (“SJC”) and PTGS and any other approvals required by ASX for the Company to recomply with Chapters 1 and 2 of the ASX Listing Rules.
In anticipation of shareholder and ASX approval of the change in nature and scale of the Company’s business, the Company continues to monitor and consider additional coal asset acquisitions.
Tags: acquisition, Coal mining, MAC, Macro Corporation
