LIONIND

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS LION INDUSTRIES CORPORATION BERHAD ("LICB" OR THE "COMPANY") Proposed disposal by Amsteel Mills Sdn Bhd ("AMSB" or "Seller"), a 99% owned subsidiary of the Company, of the hot-briquetted iron plant and business in Labuan by disposing of the entire 100% equity interest in Antara Steel Mills Sdn Bhd to Esteel Enterprise Pte Ltd ("Esteel" or "Buyer") for a cash consideration of USD128.00 million (equivalent to RM546.56 million)

LION INDUSTRIES CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
LION INDUSTRIES CORPORATION BERHAD ("LICB" OR THE "COMPANY")

Proposed disposal by Amsteel Mills Sdn Bhd ("AMSB" or "Seller"), a 99% owned subsidiary of the Company, of the hot-briquetted iron plant and business in Labuan by disposing of the entire 100% equity interest in Antara Steel Mills Sdn Bhd to Esteel Enterprise Pte Ltd ("Esteel" or "Buyer") for a cash consideration of USD128.00 million (equivalent to RM546.56 million)

We refer to the Company’s announcement dated 9 June 2020 (“Announcement”) in relation to the Proposed Disposal. Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Announcement.

 

The Board of Directors of LICB wishes to announce that LICB and AMSB had on 24 July 2020 entered into a supplemental letter agreement with Esteel to vary and amend the existing salient terms and conditions as set out in Section 2.5(ii)(a) and Section 2.5(ii)(d) of the Announcement.

 

The full text of the announcement is attached herewith.

 




Please refer attachment below.

Attachments

LICB Proposed Disposal.pdf
193.3 kB



Announcement Info

Company Name LION INDUSTRIES CORPORATION BERHAD
Stock Name LIONIND
Date Announced 24 Jul 2020
Category General Announcement for PLC
Reference Number GA1-24072020-00107