| LION INDUSTRIES CORPORATION BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
| Description | LION INDUSTRIES CORPORATION BERHAD ("LICB" OR "COMPANY")
PROPOSED EXPANSION INTO THE FLAT STEEL BUSINESS THROUGH THE PROPOSED ACQUISITIONS OF FLAT STEEL ASSETS FOR THE PRODUCTION OF HOT ROLLED COILS AND COLD ROLLED COILS ("PROPOSED EXPANSION INTO FLAT STEEL BUSINESS")
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We refer to the Company’s announcements dated 3 July 2018, 30 August 2018, 13 September 2018, 20 September 2018, 1 November 2018, 12 March 2019 and 11 June 2019 in relation to the Proposals (collectively, “Announcements”). Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meaning as those previously defined in the Announcements.
On behalf of the Board, TA Securities wishes to announce that the Company has received a letter from the solicitors acting on behalf of TNB dated 11 July 2019 informing that TNB has agreed to Megasteel’s request for an extension of time to satisfy the conditions precedent as set out in the Tri-partite Settlement Agreement, from 30 June 2019 to 31 December 2019.
Save for the above, all other terms and conditions set out in the Tri-partite Settlement Agreement remain unchanged.
This announcement is dated 11 July 2019
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