Asiamet Resources Limited has completed the sale of its subsidiary Indokal Limited to Norin Mining for $104.9 million. The transaction, which was initially agreed upon on November 6, 2025, for $105 million on a cash-free, debt-free basis, was finalized on Sunday after all conditions precedent were satisfied or waived. The sale includes a post-completion adjustment mechanism under the sale and purchase agreement.
As part of the transaction, Asiamet has approved a special cash dividend of $93 million. The dividend, amounting to approximately $0.0268 per common share, will be paid in pounds sterling. The ex-dividend date is September 14, 2026, with the record date set for September 15, 2026. Shareholders are required to provide or update their bank details by September 18, 2026, and the dividend will be paid on September 29, 2026.
Indokal Limited, a wholly owned subsidiary of Asiamet, owned a 100% interest in the KSK Project. Following the transaction, Asiamet's principal remaining asset is the Beutong Project in Aceh, Indonesia. The board is evaluating options for Beutong and plans to update shareholders after establishing a path forward with stakeholder groups, including local communities and government authorities.
The transaction was advised by Grant Samuel as the lead financial adviser and A&O Shearman as the legal adviser.
