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fter a two-day-meeting with independent directors of Bumi Plc, Borneo Bumi Energi & Metal Pte Ltd — the holder of 29.9 percent voting shares in the coal miner — decided to withdraw a request to hold an extraordinary general meeting.

Borneo Bumi Energi & Metal, a special purpose vehicle of the Bakrie Group and PT Borneo Lumbung Energi & Metal (BORN), said in a written statement on Tuesday that the withdrawal in the best interests of Bumi Plc and its shareholders.

Despite the withdrawal, Borneo said that it had received support from independent directors to nominate Samin Tan chairman of Bumi Plc replacing Indra Bakrie, Scott Merrillees as chief financial officer replacing Andrew Beckham and Nalin Rathod as chief executive officer replacing Ari Hudaya.

Merrillees is currently serving as a director of BORN, while Rathod as a commissioner of PT Bumi Resources Minerals.

The statement mentioned nothing about a change in co-chairman. Previously, Borneo Bumi requested an extraordinary general meeting to discuss a shakeup in Bumi’s management, including the ousting of co-chairman Nathaniel Rothschild.

“[The nominations] will be dealt with by the Bumi Plc’s board at its next meeting on March 26,” the statement said.

 Speaking to The Jakarta Post following the meeting, Tan said that the position of the co-chairman which is currently held by Rothschild would be decided during the upcoming meeting. “It is the rights of the board members to decide,” he said, adding that Indra’s next position would be also decided in the meeting.

A meeting over a shakeup of Bumi Plc’s board was conducted on Monday and Tuesday, involving representatives of the Bakrie Group — including Indra Bakrie, who serves as chairman on Bumi’s board — representatives of Bumi’s independent directors — deputy chairman and senior independent director Julian Horn-Smith and independent director Robin Renwick, who participated in the meeting on behalf of other independent directors — and Samin Tan, the former president director of BORN.

Borneo Bumi said that the nomination of two potential independent nonexecutive directors, to replace Badung Tariono and Amir Sambodo, would be dealt with at the next annual general meeting scheduled for June 14.

The Bakrie Group’s ties with Rothschild were weakened after he made public a letter to Hudaya calling for “a radical cleanup” in thermal coal producer Bumi Resources in which Bumi Plc owns a 29 percent stake.

Borneo Bumi holds 29.9 percent voting shares in Bumi, according to the company’s statement. However, according to BORN, which holds 49 percent shares in Borneo, the latter holds 22.5 percent in Bumi.

BORN and the Bakrie Group, which consists of PT Bakrie and Brothers (BNBR) and Long Haul Holding Limited, established two special purpose vehicles — Borneo (Borneo Bumi) and Bumi Borneo Resources Pte Ltd — after a recent deal to sell a 23.8 percent share in Bumi belonging to BNBR to BORN.