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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, a 99% owned subsidiary of the Company, of its entire 100% equity interest in Eden Flame Sdn Bhd to Esteel Enterprise Pte Ltd ("Proposed Disposal")

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, a 99% owned subsidiary of the Company, of its entire 100% equity interest in Eden Flame Sdn Bhd to Esteel Enterprise Pte Ltd ("Proposed Disposal")
We refer to the Company’s announcements dated 14 January 2022 and 24 January 2022 (collectively, the “Announcements”) 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 the Company and AMSB had on 30 March 2022 entered into a supplemental letter agreement with Esteel to vary and amend the Long-Stop Date to 30 June 2022 in order for the Parties to satisfy the conditions precedent as set out in the Agreement (“Variation of Long-Stop Date”).

Save as disclosed in the Announcements, the Variation of Long-Stop Date is not expected to have a material impact on the earnings and EPS of the LICB Group for the financial year ending 31 December 2022 and the net assets and gearing of the LICB Group based on the audited consolidated statement of financial position of LICB as at 30 June 2020.

Save for the Variation of Long-Stop Date, all the remaining terms and conditions of the Agreement entered between the Company, AMSB and Esteel shall continue to remain in full force and effect.





Announcement Info

Company Name LION INDUSTRIES CORPORATION BERHAD
Stock Name LIONIND
Date Announced 30 Mar 2022
Category General Announcement for PLC
Reference Number GA1-28032022-00030




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