Link: https://links.sgx.com/1.0.0/corporate-announcements/4ENW4WFVAHDERGT1/e06989ba9fe57a4c1fe8fca41ace100b174308713af990aa4d981a4200b7c2d5

Summary:

• LHN Limited is proposing to sell its entire 80% equity interest in Coliwoo PP Pte. Ltd., with Coliwoo Holdings Pte. Ltd. (a subsidiary of LHN) and Globalpoint Far East Pte. Ltd. entering into a non-binding term sheet with an independent third-party purchaser.

• The planned sale covers 100,000 ordinary shares (100% of Coliwoo PP) for a consideration based on a property value of S$43,900,000 plus adjusted net asset value at completion.

• The transaction includes a proposed leaseback, under which Coliwoo PP (as landlord) will lease the property at 404 Pasir Panjang Road, Singapore to Coliwoo Holdings or its subsidiary.

• The deal is not yet binding, and there is no certainty it will be completed; any further developments will be announced by the company.

• Coliwoo PP currently operates Coliwoo Hotel Pasir Panjang, a co-living space, and is 80% owned by LHN’s subsidiary and 20% by Globalpoint Far East.

• Shareholders are advised to exercise caution in trading, as the agreement is subject to further negotiation and finalization.