[LIONIND] EGM on 24-Sep-2024

Stock
[LIONIND]: LION INDUSTRIES CORPORATION
Announcement Date
06-Sep-2024
Reference No.
GMA-06092024-00005
Corporate Action ID
MY240906MEET0005
Type
EGM
Date & Time
24-Sep-2024 14:00
Depositor Date
18-Sep-2024
Venue
Broadcast Venue, Meeting Hall, Level 16, Lion Office Tower No. 1 Jalan Nagasari 50200 Kuala Lumpur Wilayah Persekutuan Online Meeting Platform via Securities Services e-Portal at https://sshsb.net.my/ with Remote Participation and Voting facilities
Description
LION INDUSTRIES CORPORATION BERHAD - NOTICE OF EXTRAORDINARY GENERAL MEETING ("EGM")
LICB - Notice of EGM and Admin Guide.pdf
Outcome

The Board of Directors of Lion Industries CorporationBerhad (“LICB” or “Company”) is pleased toannounce that the resolutions as set out in the Notice of the ExtraordinaryGeneral Meeting (“EGM”)dated 9September 2024wereduly passed by the Shareholders of the Company by way of poll at the EGM held on 24 September 2024.

The results of the poll were duly verifiedby Commercial Quest Sdn Bhd, the Independent Scrutineer appointed by the Company.

Details of the results of the poll areset out below.

This announcement is dated 24September 2024.

Voting Results

1. 1. Ordinary Resolution 1

Description 
PROPOSED DISPOSAL BY AMSTEEL MILLS SDN BHD ("AMSTEEL MILLS"), A 99% OWNED SUBSIDIARY OF LICB 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 TO RHB TRUSTEES BERHAD ("RHB TRUSTEES") , ACTING AS THE TRUSTEE FOR AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT"), FOR A TOTAL DISPOSAL CONSIDERATION OF RM313,000,000 TO BE SATISFIED ENTIRELY IN CASH AND THE SUBSEQUENT LEASEBACK BY AMSTEEL MILLS
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 123 33
No. of Shares 289,811,776 308,608
% of Voted Shares 99.8936 0.1064
Result Accepted

2. 2. Ordinary Resolution 2

Description 
PROPOSED DISPOSAL BY AMSTEEL MILLS, A 99% OWNED SUBSIDIARY OF LICB 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 TO RHB TRUSTEES, ACTING AS THE TRUSTEE FOR AXIS-REIT, FOR A TOTAL DISPOSAL CONSIDERATION OF RM38,800,000 TO BE SATISFIED ENTIRELY IN CASH
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 124 32
No. of Shares 289,811,777 308,607
% of Voted Shares 99.8936 0.1064
Result Accepted

Remark
-
Market Buzz

2024-09-24

Meeting Outcome

Extraordinary General Meeting on 24-Sep-2024.

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