KLK bought so many Bplant shares. KLK will actively dumps Bplant shares at the region 0.29 to 0.59 on the 4th day.

First limit down: 0.7 × 1.27 = 0.89
Second limit down 0.89 - 0.30 = 0.59
Third day cannot limit down due to the rule that after 2 consecutive limit downs, the 3rd day cannot limit diwn.
3rd limit down: 0.59 - 0.30 = 0.29.

KLK will spike. KLK will dump all its Bplant shares at limit down price in a series of limit down.

Kindly be advised that the trading in BPLANT’s shares will resume with effect from 9.00 a.m., Thursday, 5 October 2023.

Kindly be advised that the trading in securities relating to KLK will resume with effect from 9.00 a.m., Thursday, 5 October 2023.

On behalf of the Board, RHB Investment Bank wishes to announce that the Company has been informed 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 parties mutually agree that:

(i) the SCA shall be terminated with immediate effect on 4 October 2023; and

(ii) as a result of the termination, BHB shall return the Deposit (equivalent to the sum of RM229,151,989.46) to KLK within 14 business days from 4 October 2023, or such other later date as may be agreed between the parties.

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 KLK Group for the financial year ending 30 September 2024.

@UncleFollower, I cannot understand the deal. Can you please let me know whether Bplant shares will go up or down.

As long as the UMW acquisition does not fail, its daily fluctuation can be ignored. At this moment, the Bplant_KLK takeover still pending and both Bplant & KLK already suspended for two consecutive days.

4 Oct 2023 Very high selling pressure. 1,763,600 Sell Q at RM4.75. But last minute close at RM4.75.

@cgtan2020: May I know the position of YTLPOWER and YTL in terms of market cap now. Do them still within top 30?

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description SIME DARBY BERHAD ("SIME DARBY" OR "COMPANY")
(I) PROPOSED ACQUISITION; AND
(II) PROPOSED MGO

Things are progressing:
On behalf of Sime Darby, CIMB wishes to announce that the application has been submitted today to the Securities Commission Malaysia in respect of waiver(s) and/or consent(s) for:
(i) the appointment of persons nominated by SDESB as directors of UMW; and
(ii) the resignation of the existing nominee directors of PNB from their directorships and/or offices in UMW,

Group chief executive officer Datuk Jeffri Salim Davidson said following the conditional share purchase agreement (SPA) with PNB today, the group will seek shareholders' consent at an extraordinary general meeting in November.

I called Sime's investor relation and she said the date of the EGM is 16 November 2023.

The chain reaction of KLK_BPLANT failure can affect SIME_UMW sentiment. If it safely sailed through 16.11.2023 EGM, then it becomes UNCONDITIONAL.

UMW & SIME, please don't fail. It is very pitiful to BPLANT shareholders.

Today 3 October 2023 UMW drops 3 sen to RM4.73, as it is affected by the KLK & BPLANT failed privatisation.

https://theedgemalaysia.com/node/684590
RM1.15 bil Boustead-KLK deal falls through, say sources; govt seeks RM2 bil to 'save' LTAT

@ investor77

https://harakahdaily.net/index.php/2023/09/18/jangan-lepaskan-pegangan-boustead-plantations/

Perikatan National playing racist issue can crash BPLANT. Stunned.

Today limit down price is 0.7 × 1.46 = 1.0. I cut off at 1.43.

KLK taking over BPLANT called off. SIME taking over UMW hope will not called off.

I really hope Sime taking UMW will not fail like Bplant.

ACE9696 Harakah Daily is dated 18 Sept 2023. That means it is old news and factored in the BPLANT share now at RM1.46.

@ soon9913, usually UMW gives dividend in the February Quarter 4 results. I think by that time is under the MGO late stage already. Unlikely they will give dividend in Nov 2023 quarter report.

One worrying thing is that Bousted use the same tactic by Najib's IMDB by using taxpayers' money.

Another 6 more rounds (2 weeks each round) of waiting till 29 December 2023.

Boustead needs RM800 million and another RM1.7 billion to redeem their Islamic Middle Term Notes at year end. October, November and December (another 3 more months) of waiting.

October 2023 already. At this point it is Strategic Collaboration Agreement (SCA). Another 1 and a half month to waot to have an EGM (16 Nov 2023) to acquire UMW from shareholders of Sime Darby. Be patient.

Sime Darby announced that they will be having an AGM to seek share holders approval for taking over UMW.

MGO of RM1.53 by Chinhin. Now Ajiya RM1.54. Who wants do buy?

Every two weeks, they keep on delaying, until players get fed up, and sell cheap to KLK. Is it for a maximum of 8 weeks delay?

On behalf of the Board, RHB Investment Bank wishes to announce that the Company has entered into a second letter of agreement with BHB and LTAT to agree for the Cut-Off Date to be 6 October 2023 or such other date as may be agreed in writing between KLK, BHB and LTAT.

Bplant has moved up. UMW has not moved at all. Still got time to do bargain hunting.

Sime Darby EGM is on 16 Nov 2023. Shareholders will sure to pass the takeover proposal. Sime registrar is Tricor Sdn Bhd.

Anything don't understand, just call the registrar 03-78490777. I am also holding UMW to be acquired by Sime Darby at RM5.00. Now still standing (not moving) at RM4.77 with high trading volume (buy and sell themselves by Sime Darby).

@atk3nthiew, that means the ex-date is 21 days after KLK issues an unconditional general offer. Just hold on to the shares. KLK registrar is Symphony Share Registrar Sdn Bhd.

@seeking, If less than 100% acceptance, another week will be given. Referring back to OldTown Berhad, it reaches almost 100%. Every week, KLK will announce the percentage of acceptance until the 3 or 4 weeks. If still do not achive 90%, I also don't know. I am also learning new things.

@taitamau, Pak Mat is convinced that this takeover can be carry out by Boustead Holdings Berhad themselves without troubing him.

@ACE9696, saya cuma berharap segala urusan pengambilalihan berjalan dengan sempuna dari mula sehingga akhir. Ini pengalaman baharu bagi saya.

One troubling matter is why KLK does not need an EGM to approve the purchase of Bplant in order that the STRATEGIC COLLABORATION AGREEMENT (SCA) becomes unconditional. MBSB needs an EGM to acquire MIDF and SIME needs an EGM to acquire UMW.

The share price of Bplant will stay Queue at RM1.55. It won't go above RM1.55.

Last thing is to receive the money shareholders sold Bplant to KLK (within 10 days from 14 Nov 2023).

KLK must have at least 90% of acceptance by 14 Nov 2023 (another 21 days).

If follow the privatization of Oldtown, the letter of offer will be issued within 21 days from 25 Sept 2023 (notice of offer in KLK announcement).

But why is the Bplant share price going down and not heading to 1.54/1.55?

Is it that those who hold the Bplant until 22 Sept 2023 (before 5 pm) will be sent offer letter of RM1.55?

Is 22 Sept 2023 (Friday) the ex-date?

I think hhhiii123 typed wrongly. The 5.79 should be 4.79 (UMW price). The 5.81 should be 4.81 (UMW price).

The takeover offer price is RM5.00 per UMW share. At this moment, UMW is trading at an average price of RM4.77.

AMBANK is representing UMW while CIMB is representing SIME in the process of SIME taking over UMW.

From Johnzhang:
Some key point extracted from KLK's announcements to clear the confusion post by some i3 members in this forum:

(1) On the unconditional date of the Proposed Acquisition, a mandatory GO (the proposed offer) to acquire all the remaining BPlant Shares not already owned by KLK/BHB/LTAT (known as Joint Offeror).

(2) The Proposed Offer will not be conditional upon any minimum level of valid acceptances of the Offer Shares as the Joint Offerors will hold more than 50% of the voting shares of BPlant upon completion of the Proposed Acquisition.

(3) All the Offer Shares tendered by the shareholders of BPlant will be taken up by the Company.

(4) Assuming the Company receives full acceptances under the Proposed Offer resulting in BPlant becoming a 65.0%-owned subsidiary of KLK.

(5) The Proposed Acquisition and Proposed Offer are subject to the following approval being obtained:
(i) the shareholders of BHB for the Proposed Acquisition and Proposed Offer at an
extraordinary general meeting to be convened; and
(ii) any other relevant authorities and/or parties, if required.
(6) For the avoidance of doubt, the Proposed Strategic Collaboration is not subject to the approval of the shareholders of the Company
(7) The completion of the sale and purchase of the Sale Shares is conditional upon the approval of the shareholders of BHB in a general meeting for the Proposed Acquisition and Proposed Offer, being fulfilled, waived or completed no earlier than 15 calendar days after the date of the SCA, or such other later date as may be agreed between the parties to the SCA in writing.
@Johnzhang:
Does KLK has to have an EGM other than BHB? Sime Darby has to convene an EGM for it to acquire UMW.