TERMINATION OF THE AMERICAN DEPOSITARY RECEIPT PROGRAMME
Lion Industries Corporation Berhad (“LICB” or the “Company”) has registered with the Securities and Exchange Commission of the United States of America, a Level 1 Sponsored American Depositary Receipt Programme (“ADR Programme”) on 30 December 1992. Under the ADR Programme, a maximum of 5% of the total issued and paid-up capital of the Company can be traded in the US OTC Market in the United States of America in the ratio of one ADR for every one ordinary share of RM1.00 each fully paid in the Company. The depositary bank for the ADR Programme is The Bank of New York. Due to the lack of investor interest in the ADR Programme, none of the ordinary shares of the Company was deposited pursuant to the ADR Programme. Hence, the ADR programme did not serve its initial objective in attracting foreign investors in the US OTC Market. The Board of Directors of the Company wishes to announce that the ADR Programme has been discontinued following The Bank of New York’s resignation as the depositary bank on 14 October 2016 (“Termination”). The Termination does not have any impact on the earnings per share and net assets per share of LICB Group for the financial year ending 30 June 2017.