Profile: The Bumi Row

JULY 2010
Cash shell Vallar, founded by Nat Rothschild, floats on the LSE after raising £700m. It intends to invest in mining sector

NOVEMBER 2010
Vallar buys stakes in Indonesian Berau Coal and Bumi Resources in a $3bn cash and shares transaction

NOVEMBER 2011
Rothschild writes to the chief executive of Bumi and Bumi Resources to accuse him of mismanagement

SEPTEMBER 2012
Bumi hires City law firm Macfarlanes to investigate alleged financial irregularities at Indonesian arm Bumi Resources after information is passed to the board

OCTOBER 2012
The Bakries propose a share swap, to cancel their shareholding in Bumi in exchange for their Indonesian assets

Rothschild quits the Bumi board, claiming the firm was failing act in the interests of minority shareholders

DECEMBER 2012
Nick von Schirnding replaces Nalin Rathod as Bumi chief executive

The UK Takeover Panel rules that two founder shareholders are acting in concert with one another, and rules that their combined viting power is reduced to 29.9pc. It also begins probe into the deal that put Bumi together

JANUARY 2013
Bumi confirms it has conclusions from Macfarlanes probe, but is unable to substantiate details

Nat Rothschild calls extraordinary general meeting to remove 12 out of the current 14 directors, including chief executive von Schirnding and chairman Samin Tan

FEBRUARY 2013
Indonesian shareholder Rosan Roeslani sells his 10pc stake to two hedge funds and one fund manager, freeing up the votes

TODAY
Extraordinary general meeting held to vote on Rothschild’s proposals. It looks likely that he will be defeated