MULTIPLE PROPOSALS LION POSIM BERHAD ("LPB" OR THE "COMPANY") (I) PROPOSED UNINCORPORATED JOINT VENTURE; AND (II) PROPOSED DIVERSIFICATION (COLLECTIVELY, THE "PROPOSALS")
| LION POSIM BERHAD |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | LION POSIM BERHAD ("LPB" OR THE "COMPANY")
(I) PROPOSED UNINCORPORATED JOINT VENTURE; AND
(II) PROPOSED DIVERSIFICATION
(COLLECTIVELY, THE "PROPOSALS") |
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Reference is made to the Company’s announcements dated 18 May 2022 (“First Announcement”), 25 November 2022, 2 December 2022 and 16 February 2023 (collectively, the “Announcements”), and the Company’s Circular to Shareholders dated 17 November 2022 (“Circular”) in relation to the Proposals. Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the First Announcement and the Circular.
On behalf of the Board of Directors of LPB, Mercury Securities wishes to announce that Landasan Lumayan had on 16 August 2023 agreed to Lion Waterfront’s request for a further extension of time from 18 August 2023 to 18 May 2024, for the Parties to have more time to satisfy the Conditions Precedent as stipulated in the Development Agreement.
Save for the above, all remaining terms and conditions of the Development Agreement shall continue to remain in full force and effect.
This announcement is dated 16 August 2023.
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Announcement Info
| Company Name | LION POSIM BERHAD |
| Stock Name | LIONPSIM |
| Date Announced | 16 Aug 2023 |
| Category | General Announcement for PLC |
| Reference Number | GA1-16082023-00033 |