Bumi

Rothschild loses Bumi shareholder vote

Nat Rothschild fails to gain shareholder support for the removal of the Bumi board.
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Nat Rothschild arrives at Armory House in London for yesterday’s shareholders meeting (AFP)</div>
<div style="text-align: left;"> Nat Rothschild arrives at Armory House in London for yesterday’s shareholders meeting (AFP)</div>

Nathaniel Rothschild failed yesterday in his attempt to oust the board of Bumi plc, the company he co-founded with Indonesia's Bakrie Group in 2010. The result means that the UK-listed natural resources firm will move ahead with the Bakries' offer, made last October, to leave the venture in return for full control of one of its operating companies, Bumi Resources, which is Indonesia's biggest coal miner.

The extraordinary general meeting was called last month after Rothschild bid to replace 12 out of 14 directors, and have himself reappointed to the board. Yesterday, shareholders rejected 19 of his 22 proposals, with his attempt to return to the board...

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