PT Atlas Resources Tbk. (ARII), a coal mining issuer, is preparing a corporate action in the form of a non-preemptive capital increase (PMTHMETD/private placement) by issuing up to 319 million new shares. This figure equals 9.29% of the company’s issued and fully paid capital.The plan will be put to a vote at an extraordinary general meeting of shareholders (EGMS) scheduled for October 29, 2025.Atlas Resources’ management explained that the new shares will have a par value of IDR 200 per share. Net proceeds from the share issuance will be fully allocated to strengthen the company’s working capital. Funds will primarily be used for operating expenses (OPEX), including production costs, transportation, and maintenance of coal-logistics infrastructure.In addition, management emphasized that the added working capital will support continued development of the North Musi Rawas (Mutara) hub, covering the construction of a haul road and coal port. These facilities are the backbone of Atlas Resources’ operations, aimed at boosting production capacity and distribution efficiency over the medium term.“By conducting a non-preemptive share issuance (PMTHMETD), the company can use the proceeds to improve its working-capital structure. With stronger working capital, the company can establish partnerships and secure investment financing with third parties to support business activities,” management wrote in a public disclosure on Monday (September 22, 2025).From a financial-impact perspective, this corporate action is projected to lift cash and cash equivalents by 20.26%, from USD 19.25 million to USD 23.15 million. Total assets would rise 0.63% to USD 626.62 million. Meanwhile, equity would increase 5.44%, from USD 71.65 million to USD 75.55 million.However, the action could dilute ownership by up to 8.5% for shareholders who do not participate. Even so, management believes the positive effects—improved capital structure and liquidity—will enhance the company’s competitiveness amid a volatile coal industry.Atlas Resources booked revenue of USD 318.15 million in 2024, higher than USD 280.61 million in 2023. Net profit reached just USD 816 thousand in 2024, slightly up from USD 728 thousand in 2023.Management stressed, “The PMTHMETD can only be carried out after the company obtains EGMS approval to be held on October 29, 2025 or in accordance with applicable regulations.”
Source https://djakarta-miningclub.com