----- Forwarded Message ----
VALLAR PLC - Directorate Change
Posted on: Tue, 23 Nov 2010 09:16:19 EST
Symbols: VLLRF
Nov 23, 2010 (PR Newswire Europe via COMTEX) --
Vallar PLC Symbol: VAA
23 November 2010 Vallar PLC Board Appointments Further to our
announcement
on 16 November 2010 regarding the acquisition of holdings in PT Bumi Resources
Tbk ("Bumi") and PT Berau Coal Energy Tbk ("Berau"), Vallar PLC ("Vallar") is
pleased to announce the appointment to the board of Indra Bakrie as Chairman
and Rosan Roeslani as a non Independent Non-Executive Director. In
addition,
for operational reasons, the Board of Vallar has invited Mr Ari Hudaya, CEO of
Bumi, to join the Board as Chief Executive Officer. This is to ensure that in
the period before the closing of the transactions with Berau and Bumi, there
is
a high level of co-ordination with Vallar and full involvement in future
planning across the group. Indra Bakrie Mr Bakrie brings a wealth of
corporate experience having helped steward numerous businesses to success in
the past, including Bumi. The Vallar Board of Directors believe Mr Bakrie's
appointment will retain the local Indonesian identity of the combined company
and provide strategic guidance in the transitioning of the separate businesses
to a single London listed major coal producer. Ari Hudaya Ari Hudaya
currently serves as the President Director of Bumi and has held this position
since 2001. He has also held the positions of President Commissioner of each
of
PT Arutmin Indonesia ("Arutmin"), PT Kaltim Prima Coal ("KPC"), Indocoal
Kalsel
and Indocoal Kaltim and was a former President Director of PT Bakrie &
Brothers
Tbk. He currently holds the position of President Director of Enercorp and is
a
Director of each of IndoCoal Resources, Kalimantan Coal and Sangatta Holdings.
Rosan Roeslani Mr. Roeslani was appointed to the board of directors of Berau
in July 2010. He was an independent commissioner of KPC and Arutmin, both of
which are subsidiaries of Bumi. Mr. Roeslani is also President Director of
Berau and Commissioner of PT Mahaka Media Tbk. Mr. Roeslani is a founder and
the current Chairman of Recapital. There are no other matters to be
disclosed under paragraph 9.6.13R of the Listing Rules of the Financial
Services Authority. Enquiries: Vallar PLC Investor Relations: +44 1534
728
235 END
