Dear Investing Fraternity of i3 Forum, (Please read to the end as we type now)
It has been confirmed. With dismay and sadness. The 33% Sale of Bplant shares by LTAT/Boustead has been called off.
Leaving us in a time of guessing what will be LTAT/Boustead's next move?
Now reported in Bursa are these revelations
BOUSTEAD PLANTATIONS BERHAD |
Type | Announcement | |||||||||
Subject | TAKE-OVERS & MERGERS (PARAGRAPH/RULE 9.19 (47A)) | |||||||||
Description | BOUSTEAD PLANTATIONS BERHAD ("BPLANT" OR "COMPANY") | |||||||||
Reference is made to the Company’s announcements dated 24 August 2023 and 3 October 2023, in relation to the Proposed Strategic Collaboration. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the aforesaid announcements.
The Board of BPlant wishes to announce that the controlling shareholders of the Company, BHB and LTAT, have informed the Company that the Condition Precedent under the SCA will not be satisfied by the Cut-Off Date of 6 October 2023 and accordingly, the parties to the SCA have agreed not to proceed with the Proposed Strategic Collaboration.
In the circumstances, the transacting parties mutually agree that the SCA shall be terminated with immediate effect on 4 October 2023.
The termination of the SCA is not expected to have any material effect on the earnings, earnings per share, NA and NA per share of the Company for the financial year ending 31 December 2023.
This announcement is dated 4 October 2023. In agreement by both parties the deal ends on 4 October But what happened to KLK's newly purchased 808 Million Bplant shares or about 36% KUALA LUMPUR (Oct 4): Here is a brief recap of some corporate announcements that made news on Wednesday involving Kuala Lumpur Kepong Bhd, Boustead Plantations Bhd, Boustead Heavy Industries Corp Bhd, Boustead Holdings Bhd, KIP Real Estate Investment Trust, Hexza Corporation Bhd and YLI Holdings Bhd. The proposed disposal of a 33% stake in Boustead Plantations Bhd (BPlant) by the Armed Forces Fund Board (LTAT) and Boustead Holdings Bhd to Kuala Lumpur Kepong Bhd (KLK) has fallen through. This confirms the report by The Edge on Tuesday. KLK said it was informed that the condition precedent under the strategic collaboration agreement inked between KLK, Boustead and LTAT “will not be satisfied by the cut-off date of Oct 6, 2023”. “In the circumstances, the parties mutually agree that the SCA shall be terminated with immediate effect on Oct 4, 2023,” it said. “As a result of the termination, Boustead Holdings Bhd shall return the deposit (equivalent to the sum of RM229.15 million) to KLK within 14 business days from Oct 4, 2023, or such other later date as may be agreed between the parties,” KLK added. Both KLK and BPlant shares will resume trading on Thursday, after two days of suspension on Tuesday and Wednesday. To recap, the deal would have seen LTAT and Boustead dispose of a 33% stake in BPlant for RM1.15 billion or RM1.55 per share. KLK currently holds a direct 3.09% stake in BPlant, following its last acquisition of 6.11 million shares on Sept 29. Under the deal, KLK had planned to extend a mandatory general offer at RM1.55 a share for BPlant in order to raise its shareholding to 65%, and to subsequently delist the company. LTAT and Boustead would have held the remaining 35% upon completion of the now-defunct exercise. As a result of the termination, Boustead Holdings Bhd shall return the deposit (equivalent to the sum of RM229.15 million) to KLK within 14 business days from Oct 4, 2023, or such other later date as may be agreed between the parties,” KLK added. ok this is from KLK Bursa Filing TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS KUALA LUMPUR KEPONG BERHAD ("KLK" OR THE "COMPANY") PROPOSED STRATEGIC COLLABORATION AMONG KLK, BOUSTEAD HOLDINGS BERHAD ("BHB") AND LEMBAGA TABUNG ANGKATAN TENTERA ("LTAT") IN RELATION TO BOUSTEAD PLANTATIONS BERHAD ("BPLANT") ("PROPOSED STRATEGIC COLLABORATION")
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KUALA LUMPUR: FGV Holdings Bhd's subsidiaries today entered into a binding term sheet on the respective disposal and acquisition of 100 per cent stake in MSM Perlis Sdn Bhd for RM175 million.
In a joint statement today, both companies said the agreement, between MSM Malaysia Holdings Bhd and FGV Integrated Farming Holdings Sdn Bhd (FGVIF), is set to be completed by the third quarter of this year.
The decisions were mandated by both FGV and MSM board to optimise the potential of the assets and strengthen the capital structure.
SO IT ENDED WELL FOR BOTH THPLANT AND MSM/FGV
WILL IT END WELL FOR BPLANT?
WILL THERE BE A PLAN B?
With kind regards
Calvin Tan
Please buy/sell after doing your own due diligence or consult your Remisier/Fund Manager
Note: It is not Bplant that needs a bailout. It is Boustead/Ltat plus Pharmaniaga/BHIC that needs bailout
BPlant is in fact a "Gold Mine" Cash Cow that can save them all when its Untold wealth is fully unlocked someday
For now please be careful as short term market is volatile for punters and traders. Longer term investor who bought early and cheap and all ok.
THERE WAS A PLAN B FOR THPLANT WHEN ITS SALE OF TATAU, SARAWAK LANDS TO NON BUMI TAMACO WAS ABORTED
THERE WAS A PLAN B FOR MSM/FGV AS SALE OF CHUPING, PERLIS LAND WAS UNDERVALUE
WILL THERE ALSO BE A PLAN BE FOR BPLANT
ASSETS OF BPLANT ARE OF GREAT VALUE LIKE "GOLD MINE"
ASSETS COULD BE SOLD AND CLASSIFIED AS
1) ABOVE MARKET VALUE
2) MARKET VALUE
3) BELOW MARKET VALUE
4) FORCE SALE VALUE (When Bank lelong)
5) FIRE SALE VALUE
During Asian Financial Crisis when nobody buy from High Court lelong at Force Sale Value)
Malaysian Govt set up Danaharta to prevent "FIRE SALE VALUE"
So is Rm1.55 undervalue for Bplant?
Created by calvintaneng | May 04, 2024
Created by calvintaneng | May 02, 2024
Created by calvintaneng | Apr 29, 2024
Created by calvintaneng | Apr 27, 2024
SALE OF LANDS TO F&N BY MSM AT RM158 MILLIONS WAS ABORTED SINCE F&N NON BUMI ENTITY
BUT FGV GAVE A FINAL OFFER AT RM175 MILLIONS (17% HIGHER)
ITV ENDED WELL WITH MSM/FGV
WILL IT END WELL WITH BPLANT?
2023-10-05 00:34
Plan B in full motion as LTAT emerge to take over Bplant at Rm1.55
Bplant will most probably follow Boustead and be delisted from Bursa
2023-10-05 14:06
THE HIGHLY DEFENSIVE NATURE OF PALM OIL CO VERSUS OTHERS: Eg. NPC RESOURCES VERSUS KNM, Calvin Tan
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2023-10-11-story-h-217915830-THE_HIGHLY_DEFENSIVE_NATURE_OF_PALM_OIL_CO_VERSUS_OTHERS_Eg_NPC_RESOURC
2023-10-11 23:10
LTAT TAKING OVER BPLANT AT RM1.55 IS NOW A GIVEN
IT WAS A CHUN CHUN B PLAN
NOW WE "SEE" PLAN C EMERGING
BPLANT: KLK Aborted Purchase: LTAT Took over in Plan B: Now Will There Be A Plan C?, By Calvin Tan
https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2023-10-20-story-h-216991405-BPLANT_KLK_Aborted_Purchase_LTAT_Took_over_in_Plan_B_Now_Will_There_Be_
2023-10-20 22:08
calvintaneng
THERE WAS A PLAN B FOR THPLANT WHEN ITS SALE OF TATAU, SARAWAK LANDS TO NON BUMI TAMACO WAS ABORTED
THERE WAS A PLAN B FOR MSM/FGV AS SALE OF CHUPING, PERLIS LAND WAS UNDERVALUE
WILL THERE ALSO BE A PLAN BE FOR BPLANT
ASSETS OF BPLANT ARE OF GREAT VALUE LIKE "GOLD MINE"
ASSETS COULD BE SOLD AND CLASSIFIED AS
1) ABOVE MARKET VALUE
2) MARKET VALUE
3) BELOW MARKET VALUE
4) FORCE SALE VALUE (When Bank lelong)
5) FIRE SALE VALUE
During Asian Financial Crisis when nobody buy from High Court lelong at Force Sale Value)
Malaysian Govt set up Danaharta to prevent "FIRE SALE VALUE"
So is Rm1.55 undervalue for Bplant?
2023-10-05 00:28