Linkers Industries Signs Material Agreement to Acquire 29% Stake in LPW

Linkers Industries announced entering into a material definitive agreement. On June 17, Linkers Industries, through its wholly-owned subsidiary, Linkers Asia Pacific, entered into a sales and purchase agreement with Man Tak Lau, the chairman of the board of directors of the Company, pursuant to which Linkers Asia Pacific conditionally agreed to purchase, and Lau, conditionally agreed to sell, 150,800 shares, or twenty nine percent of the outstanding shares, of LPW Electronics, the consideration is approximately $2,350,000. Meanwhile, all outstanding amounts owed by LPW to an associate, totaling approximately $6,160,000, together with the foregoing, shall be settled in cash upon closing. Immediately prior to the closing of the Transaction, the Company currently owns 20% of the equity interests in LPW. Upon closing of the Transaction, the Company will own up to 49% of the equity interests in LPW. Closing of the expected is on and around June 17. LPW is a limited liability company incorporated in Thailand in March 2023 and its principal business is the manufacturing of wire harnesses in Thailand. LPW owns a three-level factory building and a dedicated warehouse of around 6,500 square meters erected on approximately 8,000 square meters of land in Pathum Thani, Thailand. Its customer portfolio comprises multinational corporations with operations in Thailand mainly in the automotive and industrial sectors which will help to enlarge the existing customer base of the Company and offer a valuable opportunity to expand our footprint in Thailand.