Reference is made to the Company’s announcements dated 12 October 2021, 28 October 2021, 1 November 2021, 9 November 2021, 7 December 2021, 10 December 2021, 16 December 2021, 23 December 2021 and 7 March 2022 (collectively, the “Announcements”), and the Company’s Circular to Shareholders dated 25 November 2021 (“Circular”) in relation to the Disposal. Unless otherwise stated, abbreviations and defined terms used throughout this announcement shall have the same meanings as those previously defined in the Announcements and the Circular.
The Board of Directors of LICB wishes to announce that the Buyer had fully paid the final Adjusted Consideration to the Seller in accordance with the agreed formula set out in Appendix IV of the Circular of approximately USD165.63 million (equivalent to approximately RM697.74 million)(“Final Adjusted Consideration”).
The full text of the announcement is attached herewith.