Lion will get extra from Antara Metal disposal

PETALING JAYA: Lion Industries Corp Bhd (LICB) stated the “closing adjusted consideration” from the disposal of its unit Antara Metal Mills Sdn Bhd had elevated by RM26.15mil to RM697.74mil.

Whole proceeds had elevated because of the completely different alternate fee used and the date adopted for the closing of Antara’s account, it stated in a submitting with Bursa Malaysia yesterday.

LICB stated the ultimate adjusted consideration was based mostly on Antara’s closing account as of the completion date on Dec 10, 2021 whereas the precise alternate fee was based mostly on US$1 for RM4.215 as at April 7, 2021, in comparison with RM4.18 beforehand, Bernama reported.


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