LIONIND

0.790

-0.025 (-3.1%)

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.

Attachments

LICB - Proposed Disposal .pdf
187.9 kB



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