LTKM Bhd said it intends to review the terms of the proposed RM336 million reverse takeover deal proposed earlier this year due to challenging market conditions. In a filing with Bursa Malaysia on Friday (Dec 9), the poultry group said it had submitted a withdrawal of the application in relation to the proposals, which were submitted to the Securities Commission Malaysia for approval on the same day.
Company to dispose of existing poultry business for RM158.83 million, with proceeds to be distributed to shareholders as special dividend and capital repayment
Chicken egg producer, LTKM Bhd has proposed to divest its entire existing non-profitable businesses to its holding company and venture into electronic manufacturing services (EMS) by acquiring Local Assembly Sdn Bhd (LASB) in a reverse take over (RTO) worth RM336 million to be satisfied by cash and shares
Company to dispose of existing poultry business for RM158.83 million, with proceeds to be distributed to shareholders as special dividend and capital repaymentKLANG, Malaysia, Apr 8, 2022 - (ACN Newswire)