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 ("Antara") to Esteel Enterprise Pte Ltd ("Esteel" or "Buyer") for the Adjusted Consideration as defined in the announcement dated 23 November 2020
| 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 ("Antara") to Esteel Enterprise Pte Ltd ("Esteel" or "Buyer") for the Adjusted Consideration as defined in the announcement dated 23 November 2020 |
|
We refer to the Company’s announcements dated 9 June 2020, 24 July 2020, 24 August 2020, 17 September 2020, 28 September 2020, 16 October 2020, 30 October 2020, 13 November 2020, 23 November 2020, 17 December 2020, 21 December 2020 and 18 January 2021 (collectively, the “Announcements”) and the Company’s Circular to Shareholders dated 20 January 2021 (“Circular”) 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 Announcements and adopted in the Circular.
The Board of Directors of LICB wishes to announce the indicative planned utilisation pursuant to the Proposed Disposal as set out in the attached full text of the announcement.
The full text of the announcement is attached herewith. |
|
Please refer attachment below.
Announcement Info
| Company Name | LION INDUSTRIES CORPORATION BERHAD |
| Stock Name | LIONIND |
| Date Announced | 20 Jan 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20012021-00022 |