Announcement • Sep 29

+ 1 more update

Milkyway International Chemical Supply Chain Pte. Ltd. completed the acquisition of LHN Logistics Limited (Catalist:GIH) from LHN Group Pte Ltd

Milkyway International Chemical Supply Chain Pte. Ltd. made and offer to acquire LHN Logistics Limited (Catalist:GIH) from LHN Group Pte Ltd for an offer per share of SGD 37.9 million on June 4, 2023. The offer per share is SGD 0.2266, the acquisition volume is 167.68 million shares of LHN Logistics Limited, for overall transaction consideration of SGD 38 million with the entire transaction consideration to be paid in cash. The LHN Group board of directors consider the offer in the best interest of the company and the shareholders. As of July 31, 2023, JTC Corporation has no objection to (and is prepared to grant its written consent for) the change in the Company’s indirect percentage ownership in HN Logistics in connection with its holding of the above-mentioned property located at Gul Avenue, subject to, among others, the payment of a fee by HN Logistics of SGD 4.12 million. The transaction is subject to approval from the Shanghai Stock Exchange and China Securities Regulatory Commission for registration. GDR issuance and listing on SIX Swiss Exchange are conditionally approved by SIX Exchange Regulation AG, awaiting final approvals from both Chinese and Swiss authorities. As of August 21, 2023, valid acceptances of the offer received from shareholders (other than the Offeror’s concert parties) is 151,926,100 shares, which is represent 90.61% stake in LHN Logistics. on August 21, 2023, the offeror has received valid acceptances and became unconditional in all respects. The minimum acceptance condition of the offer has been satisfied. As the offeror has received valid acceptances pursuant to the Offer in respect of not less than 90.0% of the total number of issued Shares, the offeror is entitled to, and intends to, exercise its right of compulsory acquisition under Section 215(1) of the Companies Act to compulsorily acquire all the remaining Shares of shareholders who have not accepted the offer. As of August 21, 2023, the transaction has been approved by shareholders of LHN Logistics. The offer will close on September 13, 2023. As of August 21, 2023, the closing date for the offer will be extended from September 13, 2023, to September 27, 2023. As of August 22, 2023, the total number of shares of the target company that the shareholders of the target company have held and confirmed to accept the offer has reached 157.12 million shares, accounting for 93.699% of the total share capital of the target company. On August 28, 2023, the company, through its wholly-owned subsidiary MILKYWAY INTERNATIONAL CHEMICAL SUPPLY CHAIN PTE LTD, already paid the transaction price of SGD 35.6 million corresponding to the abovementioned accepted shares. RHT Capital Pte. Ltd. acted as financial advisor toMilkyway International Chemical Supply Chain Pte. Ltd, Boardroom Corporate & Advisory Services Pte. Ltd. acted as registrar to the offeror. As on August 28, 2023, Milkyway International Chemical Supply Chain Pte. Ltd. completed the acquisition of 84.05% stake in LHN Logistics Limited from LHN Group Pte Ltd. LHN Group Pte Ltd received SGD 31.9 million as part of consideration. As of September 21, 2023, Offeror holds in aggregate of 151.92 million Shares, representing approximately 90.61% of the total number of issued Shares. Offeror intends to exercise its right of compulsory acquisition to acquire all the Shares held by the Dissenting Shareholders on or after October 21, 2023. Milkyway International Chemical Supply Chain Pte. Ltd. completed the acquisition of LHN Logistics Limited (Catalist:GIH) from LHN Group Pte Ltd on September 27, 2023.

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Milkyway International Chemical Supply Chain Pte. Ltd. completed the acquisition of LHN Logistics Limited (Catalist:GIH) from LHN Group Pte Ltd

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