Alastair Gordon Christopher McLeod, the Director and Chief Financial\nOfficer of PT Bayan Resources Tbk (BYAN), has reported the sale of a\nportion of his shares in the company. The transaction was reported to\nthe Financial Services Authority (OJK) on 22 September 2026, amid\nongoing speculation regarding the takeover of BYAN shares by businessman\nAndi Syamsuddin Arsyad, also known as Haji Isam.<\/p>\n
According to the Report on Ownership or Any Change in Share Ownership\nof Public Companies submitted in accordance with POJK Number 4\/2024,\nMcLeod sold 185,200 units of BYAN shares on 21 September 2026 at a price\nof Rp13,352 per share. This direct sale transaction did not involve a\nRepurchase Agreement scheme.<\/p>\n
Following the transaction, McLeod\u2019s shareholding in BYAN decreased\nfrom 4,000,000 units to 3,814,800 units. However, his voting rights in\nthe company remained unchanged at 0.01% both before and after the\ntransaction.<\/p>\n
McLeod has served as a Director of PT Bayan Resources Tbk since 18\nMarch 2008. A British national, he has a background as a professional\naccountant at several accounting firms in the UK and previously served\nas the Country Head of Corporate Restructuring at KPMG from 1997 to\n2004. He also served as a Non-Executive Director at Kangaroo Resources\nLimited from 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
McLeod\u2019s share sale comes amidst a series of reports regarding the\nplanned transfer of BYAN shares to Haji Isam\u2019s business group, which has\nbeen circulating since August 2026. This issue previously triggered a\nsurge in BYAN\u2019s share price, which rose 18.75% to the level of Rp17,100\non 18 August 2026, with market capitalisation briefly reaching Rp496.55\ntrillion, even though BYAN management and the Haji Isam-affiliated\nissuer, PT Jhonlin Agro Raya Tbk (JARR), denied knowledge of the planned\ntransaction at that time.<\/p>\n
Rumours of the acquisition strengthened again in mid-September 2026.\nBased on information disclosure, Low Tuck Kwong and his daughter Elaine\nLow signed a Conditional Share Purchase Agreement with PT Jhonlin\nBaratama on 16 September 2026, which includes the planned transfer of\napproximately 10 billion BYAN shares, or the equivalent of 30% of the\ncompany\u2019s total outstanding shares. This news once again boosted BYAN\u2019s\nshares, which jumped 19.96% to the level of Rp13,825 per share following\nthe announcement, although the company emphasised that the transaction\nremains conditional and its completion depends on several preceding\nrequirements.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bayan-resources-cfo-sells-shares-amidst-potential-acquisition-by-haji-isam-1790131969", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }