Haji Isam Increases Shareholding in Bayan; Management Responds

The corporate action between two conglomerates, PT Bayan Resources Tbk (BYAN) owned by Low Tuck Kwong and PT Jhonlin Baratama owned by Andi Syamsuddin Arsyad, also known as Haji Isam, continues. This time, the number of Bayan shares to be acquired by PT Jhonlin Baraterm is increasing by approximately 84 million shares from the initial amount.

Citing information disclosure from the Indonesia Stock Exchange (IDX), BYAN management stated that the increase in shares is reflected in the Conditional Share Purchase Agreement (CSPA), which has risen from the previous 10,000,000,500 ordinary shares to 10,084,088,370 shares.

Nevertheless, management has ensured that the transaction will not cause any material negative impact that could disrupt the company’s operational activities or business continuity.

“This event does not cause any material negative impact that could disrupt the operational activities, legal aspects, financial condition, and business continuity of the Company,” management wrote on Wednesday (7/10/2026).

For information, this report is a follow-up to previous information disclosure regarding the signing of CSPA Number 466/BR-OJK/IX/2026 dated 17 September 2026.

Based on the notification letter received by BYAN, Dato’ Low Tuck Kwong and Elaine Low signed the CSPA on 16 September 2026 with PT Jhonlin Baratama as the buyer. Subsequently, the Company received a follow-up notification letter dated 5 October 2026, stating that Dato’ Low Tuck Kwong and Elaine Low, together with the buyer, signed an amendment to the CSPA on 1 October 2026.