Golden Energy and Resources Limited (SGX:AUE) agreed to spin off 62.49983% stake in PT Golden Energy Mines Tbk on November 9, 2022. Golden Energy and Resources shareholders will get 1.3936 GEMS Shares for each issued and paid-up ordinary share of the Golden Energy and Resources Limited. Transaction is subject to SGX approval and Golden Energy and Resources Limited shareholders approval. The transaction is expected to close on August 15, 2023. W Capital Markets Pte Ltd acted as a financial advisor and Boardroom Corporate & Advisory Services Pte. Ltd. acted as a share registrar to Golden Energy and Resources.

Golden Energy and Resources Limited (SGX:AUE) completed the spin off of 62.49983% stake in PT Golden Energy Mines Tbk on August 15, 2023.