Reference is made to the Company’s announcements dated 15 July 2022, 29 July 2022 and 26 September 2022 in relation to the Proposed Acquisition (collectively, the “Announcements”). 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 AMSB had on 27 September 2022 entered into a supplemental letter with Yinson in which the parties had mutually agreed:

(a)  to the extension of time from 28 September 2022 to 27 November 2022 in order for Yinson to satisfy the remaining condition precedent (i.e. Transfer Approval) in accordance to the Sale and Purchase Agreement; and

(b)  to amend the Completion Period to 3 months from the date the last of the conditions precedent is fulfilled in accordance to the Sale and Purchase Agreement.

The full text of the announcement is attached herewith.