PROPOSED DISPOSALS
| LION INDUSTRIES CORPORATION BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-04092023-00002 |
| Subject | PROPOSED DISPOSALS |
| Description | LION INDUSTRIES CORPORATION BERHAD ("LICB" OR THE "COMPANY")
REPLY TO BURSA MALAYSIA SECURITIES BERHAD'S QUERY LETTER DATED 4 SEPTEMBER 2023 IN RELATION TO THE PROPOSED DISPOSALS |
| Query Letter Contents | We refer to LIONIND’s announcement dated 3 September 2023 in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:
1. The detailed basis in arriving at the Disposal Consideration and the transaction price per sq ft. 2. Whether any valuation was carried out on the Lands; if so, the name of the independent registered valuer, date and method of valuation and quantification of the market value. 3. The estimated breakdown for utilisation of proceeds for the payment of creditors, administrative and operating expenses respectively. 4. The details of the estimated expenses for the Proposed Disposals of RM22.23 million. 5. The rationale for the Advances from the Purchaser to form part of the settlement for SPA 1 as the Advances is subject to a charge of 0.8% per month.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully
Listing Regulation
cc: Market Surveillance Dept. Securities Commission (via fax) |
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We refer to the Company's announcement made on 3 September 2023 in relation to the Proposed Disposals ("Announcement"). For consistency purposes, the abbreviations used in this announcement are the same as those previously defined in the Announcement unless otherwise defined herein.
On behalf of the Board, Mercury Securities wishes to announce the following additional information as required by Bursa Securities vide its letter dated 4 September 2023 (Ref No.: IQL-04092023-00002).
Please refer to the attachment for further details of the additional information.
This announcement is dated 5 September 2023. |
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Please refer attachment below.
Announcement Info
| Company Name | LION INDUSTRIES CORPORATION BERHAD |
| Stock Name | LIONIND |
| Date Announced | 05 Sep 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-05092023-00039 |