Sale of Indokal Limited and Special Dividend

Asiamet Resources Limited

09 September 2026

 

9 September 2026

Asiamet Resources Limited

("Asiamet" or the "Company")

Completion of Sale of Indokal Limited and Special Dividend

Asiamet Resources Limited (AIM: ARS) is pleased to announce that it has completed the sale of its wholly owned subsidiary, Indokal Limited ("Indokal"), which owns a 100% interest in the KSK Project, to Norin Mining (Hong Kong) Limited ("Norin Mining") (the "Transaction").

Following completion of the Transaction, the Board has approved a special cash dividend of US$93.0 million (the "Special Dividend"), in line with the Company's previously stated intention to substantially utilise the net proceeds from the Transaction to effect a cash distribution to shareholders.

Highlights

·      The sale of Indokal to Norin Mining has completed and the Company has received US$104.9 million in cash consideration.

·      The Board has approved a US$93.0 million Special Dividend, equivalent to approximately US$0.0268 per common share in the Company of US$0.01 each ("Common Share").

·     The Special Dividend is expected to be paid in pounds sterling on 29 September 2026 to shareholders on the register at close of business on 15 September 2026. Asiamet intends to transfer the Special Dividend funds to GBP imminently, and will announce the applicable USD/GBP exchange rate prior to payment.

Completion of the Transaction

As previously announced on 6 November 2025, Asiamet entered into a sale and purchase agreement ("SPA") with Norin Mining for the sale of its 100% interest in Indokal, through which the Company holds its interest in the KSK Project, for US$105 million on a cash-free, debt-free basis.

Following the Company's announcement on 7 September 2026 confirming that all conditions precedent to completion had been satisfied or waived, the Transaction has now completed.

The Company received US$104.9 million in cash consideration at completion, adjusted for debt and subject to a post-completion adjustment mechanism as determined in accordance with the SPA.

Special Dividend

On 6 November 2025, the Board stated that it expected the net proceeds from the sale to be substantially utilised to effect a cash distribution to shareholders following completion.

Having reviewed the Company's transaction costs and ongoing funding requirements, the Board has approved a Special Dividend with an aggregate value of US$93.0 million, equivalent to approximately US$0.0268 per Common Share on Admission.

The Special Dividend will be paid in pounds sterling. The sterling amount payable per Common Share will be determined by reference to the applicable USD/GBP exchange rate and announced prior to payment.

The timetable for the Special Dividend is as follows:

Event	Date
Dividend announcement	9 September 2026
Ex-Dividend Date	14 September 2026
Record Date	15 September 2026
Deadline for shareholders to confirm bank details	18 September 2026
Payment Date	29 September 2026

Shareholders who are required to provide or update their bank details should ensure these are submitted by 18 September 2026 in accordance with the instructions set out in the shareholder communication previously sent by the Company's registrar.

Beutong Project

Following completion of the Transaction, the Company's principal remaining asset is the Beutong Project in Aceh, Indonesia. The Board is evaluating all available options for Beutong and will update shareholders further once it has established a path forward with various stakeholder groups including local communities and the relevant local, provincial and central governments authorities.

Tony Manini, Chairman of Asiamet, commented:

"Completion of the KSK Transaction represents a significant milestone for Asiamet and its shareholders and is the culmination of many years of work to advance the KSK Project.

We are pleased to have completed the Transaction with Norin Mining and, to be returning a substantial proportion of the proceeds to shareholders through the Special Dividend.

I would like to thank our shareholders for their continued support and our employees, advisers, partners and stakeholders for their contribution to this outcome." 

Advisers and Counsel

Grant Samuel acted as lead financial adviser and A&O Shearman acted as legal adviser to Asiamet on the Transaction.

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Chairman

For further information, please contact:

Tony Manini
Chairman, Asiamet Resources Limited
Email: [e-mail]

Investor Enquiries

Sasha Sethi

Telephone: [phone]

Email: [e-mail] / [e-mail]

Nominated & Financial Adviser
Strand Hanson Limited

James Spinney / James Dance / Rob Patrick

Telephone: [phone]

Email: [e-mail]

Broker

Shore Capital
Toby Gibbs / George Payne

Telephone: [phone]

Follow us on twitter @AsiametTweets

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements.   Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices.  There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

 

END