PT Bayan Resources Tbk Responds to IDX Inquiry Regarding Share Transaction with Jhonlin Baratama

PT Bayan Resources Tbk (BYAN) responded to an inquiry from the Indonesia Stock Exchange regarding the transfer of 30.25% of its shares to PT Jhonlin Baratama at a price of Rp 2,588 per share. The company clarified that it was not involved in the transaction and cannot confirm the pricing rationale or details. Bayan Resources also stated that there has been no change in corporate control, with the largest shareholders, Dato' Low Tuck Kwong and Elaine Low, retaining a combined 30.30% stake.