BYAN Speaks Out on Rumour Haji Isam to Acquire 62.2% Stake

PT Bayan Resources Tbk (BYAN) has spoken out regarding rumours that businessman Andi Syamsuddin Arsyad, also known as Haji Isam, is set to take over approximately 62.2% of the company’s shares.

In a disclosure to the Indonesia Stock Exchange (IDX) dated 18 August 2026, BYAN’s management affirmed that, to date, the company is not aware of any plan for a takeover or acquisition of around 62.2% of BYAN shares by Haji Isam or any party affiliated with him.

“The company is not aware of any plan for a takeover and/or acquisition of approximately 62.2% of the company’s shares by Haji Isam or any party affiliated with Haji Isam,” management stated in the letter on Wednesday (19/8/2026).

Management also stated that it has no information regarding the parties involved or the structure of the reported transaction. The company is likewise unaware of the portion of shares to be transferred or the transaction value in the proposed acquisition.

Nevertheless, BYAN’s controlling shareholders have informed management that, from time to time, they may consider various opportunities to maximise their investment in the company.

Management emphasised that no transaction has yet been confirmed by the company, and therefore it cannot provide an explanation regarding the impact on corporate control.

The company also stated that there is no material impact on BYAN’s operational activities or financial performance related to the information.

The market rumour suggested that Haji Isam would take over approximately 62.2% of BYAN shares.

Based on company data, the total number of BYAN shares is 33,333,335,000.

If 62.2% of those shares were calculated using BYAN’s closing price on 18 August 2026 of Rp17,275 per share, the number of shares to be purchased would be around 20.73 billion.

Accordingly, the mathematical value of the share purchase would reach approximately Rp358.17 trillion.

This figure is an estimate based on market price and not the actual acquisition transaction value. If a transaction were indeed carried out to take over the controlling block, the agreed price could differ from the market price.

For context, BYAN’s share ownership report as of 31 July 2026 shows Dato’ Low Tuck Kwong holding 40.251% of shares, while Elaine Low holds 22.002%. Combined, their ownership reaches approximately 62.253%, very close to the 62.2% figure cited in the rumour.

The acquisition rumour had previously helped drive BYAN’s share price. On 18 August 2026, BYAN shares closed at Rp17,275, up 19.97% in a single day.