PT Bayan Resources Tbk (BYAN) has announced that its Director and\nChief Financial Officer, Alastair Gordon Christopher McLeod, has\ndivested a substantial portion of his shareholdings.<\/p>\n
According to disclosures from the Indonesia Stock Exchange (IDX),\nMcLeod sold 524,300 units of the mining company\u2019s shares at a price of\nRp13,373 per share. The transaction was executed on 22 September 2026,\nwith the purpose explicitly stated as a sale of shares. The total value\nof this share sale reached Rp7,011,463,900, or approximately Rp7.01\nbillion.<\/p>\n
The report also noted that there are 3,290,500 outstanding units of\nEquity-Linked Securities (EBE) with an execution deadline of 22\nSeptember 2026. Following this transaction, his ownership in BYAN\ndecreased from 3.81 million shares to 3.92 million shares [Note: Source\ntext contains a numerical discrepancy regarding the increase\/decrease\nlogic, translated as per source].<\/p>\n
Previously, on 21 September 2026, McLeod sold 185,200 units of BYAN\nshares at Rp13,352 per share. This direct sale did not involve a\nRepurchase Agreement scheme. With that transaction, McLeod\u2019s holdings\ndecreased from 4,000,000 units to 3,814,800 units. However, his voting\nrights in the company remained unchanged at 0.01% both before and after\nthe transaction.<\/p>\n
McLeod has served as a Director of PT Bayan Resources Tbk since 18\nMarch 2008. A British national, he has a professional background as an\naccountant in several UK accounting firms and previously served as the\nCountry Head of Corporate Restructuring at KPMG from 1997 to 2004. He\nalso served as a Non-Executive Director at Kangaroo Resources Limited\nfrom 2012 to 2014.<\/p>\n
Regarding his education, McLeod earned a Scottish Higher National\nDiploma in accounting from Napier College, Edinburgh, in 1987, and\nbecame a member of the Institute of Chartered Accountants of Scotland in\n1991. In his report, he stated that he has no affiliation with other\nmembers of the board of directors, the board of commissioners, or the\ncompany\u2019s major and controlling shareholders.<\/p>\n
This share sale by McLeod comes amid ongoing rumours regarding a\nplanned transfer of BYAN shares to the Haji Isam business group, which\nhave been circulating since August 2026. These rumours previously\ntriggered a surge in BYAN\u2019s share price, which rose 18.75% to Rp17,100\non 18 August 2026, with market capitalisation briefly reaching Rp496.55\ntrillion, despite denials from BYAN management and affiliated entity PT\nJhonlin Agro Raya Tbk (JARR).<\/p>\n
Speculation regarding a re-acquisition strengthened in mid-September\n2026. Based on public disclosures, Low Tuck Kwong and his daughter\nElaine Low signed a Conditional Share Purchase Agreement with PT Jhonlin\nBaratama on 16 September 2026. This agreement involves the planned\ntransfer of approximately 10 billion BYAN shares, equivalent to 30% of\nthe company\u2019s total outstanding shares. This news once again boosted\nBYAN\u2019s shares, which jumped 19.96% to Rp13,825 per share following the\nannouncement, although the company emphasised that the transaction\nremains conditional and subject to several preliminary requirements.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bayan-executive-sells-shares-for-substantial-value-1790153611", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }