Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Bumi Armada Berhad ( Bumi Armada or the Company ) wishes to announce that Bumi Armada Caspian Limited Liability Company ( BAC ) had been incorporated in Russia on 2 February 2012 (confirmation from the relevant authorities received on 3 February 2012).
The charter capital of BAC is RUB 10,000 of which the Companys wholly-owned subsidiaries, Bumi Armada Offshore Contractor Limited ( BAOCL ) and Bumi Armada Russia Holdings Limited ( BARHL ) have contributed RUB 9,900 and RUB 100 respectively. BAC is a 99% direct subsidiary of BAOCL and an indirect wholly-owned subsidiary of the Company. BAC will be principally involved in the oil and gas industry and will facilitate potential future opportunities for Bumi Armada Group in the Russian offshore oil and gas market.
The incorporation of BAC is not expected to have any material impact on the earnings or net assets of the Bumi Armada Group for the financial year ending 31 December 2012.
None of the Directors and/or major shareholders and persons connected to them has any interest, direct or indirect, in the said incorporation.
This announcement is dated 8 February 2012.