LIONIND

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS LION INDUSTRIES CORPORATION BERHAD ("LICB" OR "COMPANY") PROPOSED EXPANSION INTO THE FLAT STEEL BUSINESS THROUGH THE PROPOSED ACQUISITIONS OF FLAT STEEL ASSETS FOR THE PRODUCTION OF HOT ROLLED COILS AND COLD ROLLED COILS ("PROPOSED EXPANSION INTO FLAT STEEL BUSINESS")

LION INDUSTRIES CORPORATION BERHAD

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

PROPOSED EXPANSION INTO THE FLAT STEEL BUSINESS THROUGH THE PROPOSED ACQUISITIONS OF FLAT STEEL ASSETS FOR THE PRODUCTION OF HOT ROLLED COILS AND COLD ROLLED COILS ("PROPOSED EXPANSION INTO FLAT STEEL BUSINESS")

We refer to the Company’s announcements dated 3 July 2018, 30 August 2018, 13 September 2018, 20 September 2018, 1 November 2018, 12 March 2019, 11 June 2019, 11 July 2019, 9 August 2019, 10 September 2019, 20 November 2019, 29 November 2019 and 12 December 2019 in relation to the Proposed Expansion into Flat Steel Business (collectively, “Announcements”). Unless otherwise stated, abbreviations and definitions used throughout this announcement shall have the same meaning as those previously defined in the Announcements.

On behalf of the Board, TA Securities wishes to announce that Cendana Aset Sdn Bhd (“Cendana Aset”), a wholly-owned subsidiary of Cendana Domain Sdn Bhd (“Cendana Domain”), which in turn is a wholly-owned subsidiary of LICB, has become the registered shareholder of 500,000 ordinary shares, representing 100% equity interest in Secomex Manufacturing (M) Sdn Bhd (“Secomex”) on 27 July 2020 which forms part of the Proposed Acquisition of Encumbered Assets. As such, Secomex became a wholly-owned subsidiary of LICB (held via Cendana Aset, which in turn is held by Cendana Domain) on 27 July 2020.

Secomex was incorporated on 24 July 1990 under the Companies Act, 2016 with an issued share capital of RM500,000.00 divided into 500,000 ordinary shares. Secomex is principally involved in the manufacturing and marketing of industrial gases.  

 

This announcement is dated 27 July 2020.






Announcement Info

Company Name LION INDUSTRIES CORPORATION BERHAD
Stock Name LIONIND
Date Announced 27 Jul 2020
Category General Announcement for PLC
Reference Number GA1-27072020-00100