Reference is made to the announcement of the Company dated 17 July 2019 in relation to the sale and purchase agreement (“SPA”) entered into between LHB and JKSB in respect of the disposal of a piece of freehold land held under Geran 35311 Lot 559, Mukim Ijok, Daerah Kuala Selangor, Negeri Selangor for a total consideration of RM27,600,000.00 only (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein. Further to the SPA, the parties entered into supplemental agreement dated 26 March 2020 and a further supplemental agreement to vary, amend, modify and alter the provisions, terms and conditions of the SPA.  

The SPA and subsequent supplemental agreements are collectively referred to as the “SAs”.

The Board of Directors of LHB wishes to announce that an agreement was entered between LHB (“Vendor"), JKSB (“Purchaser”) and RASB (“New Purchaser”) wherein the New Purchaser undertakes to perform and discharge the obligations, duties and liabilities of the Purchaser under the SAs, and the Vendor has agreed to release and discharge the Purchaser from all obligations whatsoever in respect of the SAs subject to the terms and conditions therein contained.

Please refer to the full announcement as attached.

This announcement is dated 9 February 2021.