Geo Energy Resources’ S\$18.4 Million Share Placement Fully Subscribed by Top-Tier Investors

Key Highlights

• Geo Energy Resources Limited successfully completed a fully subscribed share placement, issuing 35 million new ordinary shares at S\$0.525 per share, raising gross proceeds of approximately S\$18.4 million.
• The majority of shares were taken up by prominent institutional funds and top-tier investors, including Asdew Acquisitions Pte Ltd, Ascend Open Master Fund VCC-ICH S F and Icham Master Fund VCC – Ploutus Fund III (collectively, “ICH AM Funds”), as well as Mr Han Seng Juan.
• Geo Energy’s market capitalisation exceeded S\$1 billion at a closing share price of S\$0.615 on 15 April 2026, marking a significant milestone for the company.
• Placement proceeds will strengthen the company’s financial position, enable the ramp-up of PT Triaryani (TRA) coal production, and provide flexibility for expansion and long-term shareholder returns.
• KGI Securities (Singapore) Pte. Ltd. acted as Placement Agent for the transaction.

Details of the Placement and Investor Profile

The overwhelming demand for the placement reflects strong investor confidence in Geo Energy’s growth strategy and execution. The shares were allocated primarily to well-recognised institutional investors:

• Asdew Acquisitions Pte Ltd – An investment holding company led by Mr Alan Wang, with a focus on listed equities, fixed income, and real estate, incorporated since 1999.
• ICH AM Funds – Collective investment schemes managed by ICHAM Pte Ltd, a licensed fund management company under the Monetary Authority of Singapore.
• Mr Han Seng Juan – A veteran with over 30 years of experience in investment and brokerage, currently Non-Executive Director and Joint-Chairman of Centurion Corporation Limited.

Strategic and Financial Implications

• The successful placement fortifies Geo Energy’s balance sheet, positioning the company to accelerate the ramp-up of its TRA operations and boost production capacity.
• The company is now better equipped to pursue new expansion opportunities and drive long-term shareholder value.

Recent Corporate and Operational Milestones

• Geo Energy’s market cap surpassed S\$1 billion, a landmark achievement that may lift investor perception and share value.
• The MBJ Integrated Infrastructure project (road and jetty), with an expected annual capacity of 40–50 million tonnes, is nearing completion, having achieved almost 90% of construction, and is on track for June/July 2026 completion.
• The company has secured binding term sheets with third-party customers for an aggregate haulage volume of 9 million tonnes per annum, ensuring recurring toll-based revenue.
• Geo Energy received RKAB approvals supporting its 2026 coal production target of 11.5–12.5 million tonnes.
• Coal prices have seen a steady rise with ICI4 prices at US\$60.40/tonne as of 10 April 2026 (up nearly US\$15/tonne from 4Q2025 averages). The M42 Futures Index forecasts coal prices at US\$62–63/tonne for 2026/27, supporting profitability.
• The company has made a strategic entry into the high-value coking coal market through a binding term sheet to acquire a majority stake, broadening its product mix and revenue streams.

Management’s Statement

“We are proud of the strong demand and interest in Geo Energy from reputable institutional funds and top-tier investors. This reflects their confidence in our strategic direction, growth prospects, and ability to execute our plans. The Placement to these funds and investors forms a new foundation for the Company’s long-term share performance. With the Group recently achieving a market capitalisation of over S\$1 billion, we are now ready to scale new heights with the upcoming completion of the MBJ Integrated Infrastructure and the ramping up of TRA coal production. Looking ahead, we remain focused on delivering sustainable growth and long-term value creation as we continue to scale our operations and strengthen our market position as a premier energy and infrastructure group in Asia.”

– Charles Antonny Melati, Executive Chairman & CEO

Important Considerations for Shareholders

• The successful share placement, strong institutional support, and rapid progress toward major infrastructure and production milestones are all potentially price-sensitive developments that could positively impact the company’s share price.
• Strengthening of the company’s capital base and the expectation of higher recurring revenues signal improved financial resilience and growth prospects.
• Rising coal prices and volume commitments from customers provide tailwinds for earnings and cash flow.
• Entry into the coking coal market expands Geo Energy’s addressable market, diversifying risk and growth drivers.

About Geo Energy Resources Limited

Geo Energy is a leading Indonesian energy group, listed on the Singapore Exchange, with a focus on premium, low-ash, low-sulphur thermal coal from assets in Kalimantan and South Sumatera. The Group also owns stakes in shipping and logistics companies and holds a 49% interest in PT Internasional Prima Coal and a majority stake in PT Marga Bara Jaya. The company’s infrastructure expansion and logistics capabilities are designed to support production growth and operational efficiency.

For further information, visit www.geocoal.com

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. Investors should perform their own due diligence and consult their financial advisors before making any investment decisions. The author and publisher are not responsible for any losses incurred from reliance on the information provided.

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