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MSWG Weekly Newsletter 20 September 2019 (English)

20.09.2019

MSWG'S QUICK TAKE ON-ONGOING CORPORATE DEVELOPMENTS

LTKM BERHAD ("LTKM" or “the Company”)

CONDITIONAL VOLUNTARY TAKE-OVER

The Board of Directors of LTKM had on 29 July 2019 announced the receipt of the Notice of conditional voluntary take-over offer dated 22 July 2019 from the joint offerors. The cash consideration for the Offer Shares is RM1.35 per Offer Share. The Independent Adviser (IA) views the Offer as “NOT FAIR” but “REASONABLE”. The Non-interested Directors, except the Chairman of the Company concurred with the view of the IA. The Chairman of the Company views the Offer as “NOT FAIR” and “NOT REASONABLE”.

The First Closing Date for the acceptance of the Offer was fixed on 3 September 2019, 5p.m. and was subsequently extended to 17 September 2019, 5p.m. On 13 September 2019, the Company announced the Final Closing Date on 2 October 2019, 5p.m.

 [Source: Company’s announcement in Bursa website on 13 August, 23 August, 30 August 2019 and 13 September 2019]

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