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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS LION INDUSTRIES CORPORATION BERHAD (LICB OR THE COMPANY) PROPOSED DISPOSALS

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 DISPOSALS

On behalf of the Board of Directors of LICB (“Board”), Mercury Securities Sdn Bhd (“Mercury Securities”), wishes to announce that Amsteel Mills Sdn Bhd ("Amsteel Mills"), a 99% owned subsidiary of LICB had entered into the following conditional sale and purchase agreements (“SPAs”) with RHB Trustees Berhad (“RHB Trustees”), the trustee of Axis Real Estate Investment Trust (“Axis-REIT”) (“Trustee” or “Purchaser”), for the followings: 

 

(i) disposal of 2 pieces of leasehold industrial land held under HS(D) 17795, PT 3494 (now known as Lot No. 25170) with the buildings erected thereon together with the fixtures and fittings attached thereto and HS(D) 31354, PT 17631 (now known as Lot No. 26953), both located in Mukim of Kapar, District of Klang, State of Selangor for a total disposal consideration of RM313.00 million to be satisfied entirely in cash and the subsequent leaseback by Amsteel Mills; and

 

(ii) disposal of a piece of leasehold industrial land held under HS(D) 119721, PT 59358 (now known as Lot 62610), located in Mukim of Kapar, District of Klang, State of Selangor for a disposal consideration of RM38.80 million to be satisfied entirely in cash.

 

(Collectively known as the "Proposed Disposals")

 

Please refer to the attachment for further details on the Proposed Disposals.

 

This announcement is dated 22 April 2024.




Please refer attachment below.



Announcement Info

Company Name LION INDUSTRIES CORPORATION BERHAD
Stock Name LIONIND
Date Announced 22 Apr 2024
Category General Announcement for PLC
Reference Number GA1-22042024-00081



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