JAKARTA - Japfa Ltd, the parent entity of PT Japfa Comfeed Indonesia Tbk (JPFA), will exit the Singapore Stock Exchange (SGX) following the planned takeover of 100% of its shares by the Santosa Family.

Maya Pradjono, Corporate Secretary of JPFA, said that the privatisation plan of Japfa Ltd. has been announced through a scheme. ‘When the scheme has been completed, all shares of the minority shareholders of Japfa Ltd. will be taken over by the Santosa Family,’ said Pradjono, in a disclosure submitted to the Indonesia Stock Exchange (IDX) on Sunday (26/1) today.

Please note, currently Japfa Ltd. directly controls 55.43% of JPFA shares. Meanwhile, the Santosa Family is the controlling shareholder of Japfa Ltd. and is also the ultimate beneficiary of JPFA.

Pradjono asserted that the privatisation of Japfa Ltd. and by the Santosa Family will not change the portion of JPFA's share control. In addition, this corporate action is said to have no impact on the company's operational activities. (KR/LM)