The Board of LHN Limited announced that the acquisition of the GSM Property has been completed on 9 May 2024. The remaining balance of the consideration for the GSM Property, being SGD 72,000,000 exclusive of GST (the "Balance of Consideration"), being the total consideration less the sum of the non-refundable deposit of SGD 8,000,000 exclusive of GST, was paid to the GSM Vendors on 9 May 2024. As disclosed in the announcement of the Company dated 22 April 2024, the Group has disposed of 20% interest in the Purchaser to Macritchie Developments Pte.

Ltd. ("MDPL") and upon completion of such disposal, the Purchaser was held as to 80% by the Group and 20% by MDPL. The Balance of Consideration was settled through the Purchaser's bank borrowings.