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 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 ("Antara") to Esteel Enterprise Pte Ltd ("Esteel" or "Buyer") for a cash consideration of USD128.00 million (equivalent to RM546.56 million) |
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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 and 13 November 2020 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.
The Board of Directors of LICB wishes to announce that LICB and AMSB had on 20 November 2020 entered into an amended and restated sale and purchase agreement in respect of the Proposed Disposal.
The full text of the announcement is attached herewith. |
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Please refer attachment below.
Announcement Info
| Company Name | LION INDUSTRIES CORPORATION BERHAD |
| Stock Name | LIONIND |
| Date Announced | 23 Nov 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-20112020-00088 |