Ladang Ternakan Kelang Sdn. Bhd. entered into heads on agreement to acquire LTK Sdn. Bhd. and LTK Omega Plus Sdn Bhd and LTK Feeds Sdn Bhd and LTK Development Sdn Bhd and LTK and Lumi Jaya Sdn Bhd from LTKM Berhad for RM 222 million.
April 07, 2022
Share
Ladang Ternakan Kelang Sdn. Bhd. entered into heads on agreement to acquire LTK (Melaka) Sdn. Bhd. and LTK Omega Plus Sdn Bhd and LTK Feeds Sdn Bhd and LTK Development Sdn Bhd and LTK and Lumi Jaya Sdn Bhd from LTKM Berhad (KLSE:LTKM) for RM 158.83 million on April 6, 2022. The completion of the Proposed Disposals is conditional upon satisfaction of all conditions precedent in the HOA. Each of the disposal component under the Proposed Disposals are inter-conditional upon one another. In addition, all the components of the Proposals are inter-conditional upon one another. the approval or consent or waivers of the lenders/ financiers of the Disposal Subsidiaries, where required, in relation to the Proposed Disposal. Subject to governmental or regulatory body or competent authority, or third party having jurisdiction over the sale. As of June 7, 2022 LTKM Berhad (KLSE:LTKM) and Ladang Ternakan Kelang Sdn. Bhd. agreed to extend the Due Diligence Period in the SSA by a further period of 60 days to August 6, 2022. M&A Securities Sdn. Bhd. acted as financial advisor to LTKM Berhad. As of September 26, 2022, Ladang Ternakan Kelang Sdn. Bhd. entered into share sale and purchase agreements to acquire LTK (Melaka) Sdn. Bhd. and LTK Omega Plus Sdn Bhd and LTK Feeds Sdn Bhd and LTK Development Sdn Bhd and LTK and Lumi Jaya Sdn Bhd from LTKM Berhad (KLSE:LTKM). as on December 9, 2022 LTKM Berhad (KLSE:LTKM) has submitted a withdrawal of the application in relation to the Proposals which had been submitted to the SC for approval.
As on March 10, 2023, Ladang Ternakan Kelang Sdn. Bhd. entered into 6 supplemental letter agreements to acquire LTK (Melaka) Sdn. Bhd. and LTK Omega Plus Sdn Bhd and LTK Feeds Sdn Bhd and LTK Development Sdn Bhd and LTK and Lumi Jaya Sdn Bhd from LTKM Berhad (KLSE:LTKM) for RM 222 million. The Proposals are expected to be completed by the first half of 2024.
LTKM Berhad is engaged in investment holding and provision of management services. The Company operates through four segments: Production and sale of poultry and related products, which is engaged in the production and sale of chicken eggs, chickens, organic fertilizers, chicken feeds and other materials; Extraction and sale of sand, which is engaged in the mining and sale of sand; Investment holding, which is engaged in investment activities in quoted and unquoted securities, as well as investment properties held by the Company on a long term basis, and Property development, which is engaged in the business of developing residential and commercial properties. The Company offers LTK Omega Plus, which includes feeds, such as flaxseed, corn, and soybean. It has a production capacity of approximately 1.5 million eggs per day. It operates a farm, which spans over 450 acres in Melaka. Its subsidiaries include LTK (Melaka) Sdn. Bhd., LTK Omega Plus Sdn. Bhd., and LTK Development Sdn. Bhd.
Ladang Ternakan Kelang Sdn. Bhd. entered into heads on agreement to acquire LTK Sdn. Bhd. and LTK Omega Plus Sdn Bhd and LTK Feeds Sdn Bhd and LTK Development Sdn Bhd and LTK and Lumi Jaya Sdn Bhd from LTKM Berhad for RM 222 million.
LTKM 
