The Board of Directors of Lion Industries Corporation Berhad (“LICB”) wishes to announce that the Company proposes to seek approval of its Shareholders for the following at the forthcoming 90th Annual General Meeting to be convened:

(i)  proposed renewal of shareholders’ mandate for the LICB group of companies to enter into recurrent related party transactions of a revenue or trading nature with related parties (“Proposed Shareholders’ Mandate”); and

(ii)  proposed share buy-back authority (“Proposed Share Buy-Back Authority”).

A circular containing the information on the Proposed Shareholders’ Mandate and a statement to Shareholders containing the information on the Proposed Share Buy-Back Authority will be despatched to the Shareholders in due course.