LION ASIAPAC LIMITED

(Co. Reg. No. 196800586R)

(Incorporated in the Republic of Singapore)

Receipt of No-Objection Letter from Singapore Exchange Securities Trading Limited for an extension of time:

  1. To release the financial results of the Group for the full year ended 30 June 2021 ("FY2021") according to Rule 705(1) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"); and
  2. To hold the Annual General Meeting for FY2021 according to Rule 707(1) of the Listing Manual of the SGX-ST.
  1. INTRODUCTION
    The Board of Directors of Lion Asiapac Limited (the "Company" and together with its subsidiaries, the "Group") has made an application to the SGX-ST on 22 July 2021 for an extension of time to postpone the deadline for the issuance of the Group's unaudited financial results for FY2021 ("FY2021 FS"). In addition, the application to SGX-ST has also included an extension of time to hold the Annual General Meeting for FY2021 ("FY2021 AGM").
  2. RESULT OF THE APPLICATION
    The Board wishes to inform that SGX-ST has, on 30 July 2021, confirmed that it has no objection to granting the following to the Company (the "Waiver"),
    1. one month extension of time, in relation to Rule 705(1) of the Listing Manual of the SGX-ST, for the Company's FY2021 FS to be announced by 28 September 2021; and
    2. one month extension of time, concerning Rule 707(1) of the Listing Manual of the SGX-ST, for the Company's FY2021 AGM to be held by 30 November 2021,

subject to the following:

  1. the Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Rule 107 of the Listing Manual of the SGX-ST, and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met; and

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    1. submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company.
  2. CONFIRMATION OF COMPLIANCES WITH THE WAIVER CONDITIONS
    1. The Board wishes to (i) inform that the COVID-19 lockdown measures in Malaysia has adversely affected the reporting deadlines of the Group's core operating subsidiary in Malaysia, Compact Energy Sdn Bhd ("CESB"). CESB had to close its accounts department for two weeks until 4 July 2021 due to the COVID-19 virus infection at its office. In addition, the situation was exacerbated by the lockdown-driven60%-restriction of headcount working at the office. Consequently, the year-end financial closing had been delayed, and (ii) confirm that the Company has fulfilled the Waiver conditions as required under Rule 107 of the Listing Manual of the SGX-ST.
    2. The Board confirms that the Company is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company.
  4. RESULT OF THE APPLICATION TO THE ACCOUNTING AND CORPORATE REGULATORY AUTHORITY ("ACRA")
    The Board also wishes to announce that the ACRA has, on 30 July 2021, approved the Company's application for the extension of time to hold FY2021 AGM. Accordingly, the Company will (a) convene its FY2021 AGM by 30 November 2021; and (b) file its annual return for FY2021 under Sections 175 and 197 of the Companies Act (Chapter 50 of Singapore) by 30 December 2021.

BY ORDER OF THE BOARD

LION ASIAPAC LIMITED

Lah Ling San

Company Secretary

Singapore, 31 July 2021

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Lion Asiapac Ltd. published this content on 31 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2021 01:21:07 UTC.