Petaling Jaya: An offshore support vessel provider, icon offshore BHD, has received approval from its shareholders to change the name of Lyonson Fleet Group BHD (LFG) of the proposed acquisition and name Lyonson Fleet Group BHD (LFG) at an extraordinary general meeting held on Monday.
LFG proposed to acquire equity stax in Liannex Fleet PTE LTD, Yinson Power Marine SDN BHD, Regulus Offshore SDN BHD and Yinson Camellia SDN BHD. RM403.5 million for total consideration.
The acquisition will be satisfied through issuing 458.5 million new ordinary shares of LFG on 88 Sen per share. This will increase the size of LFG fleet with 40 additional marine assets.
It is expected to be completed by the beginning of February, an important milestone for LFG will mark its asset base and raise your overall abilities in offshore marine, energy and transport services with your long -term strategic goals Will align.
In a statement, the group stated that the proposed name change in the Lienson Fleet Group underlined its dedication to strengthen the presence of its market to better align with its extended business activities.
The group attempts to strengthen its brand recognition and increase its position as a major force within the dynamic offshore maritime, energy and transport services sector. This change is a will for the group forwarding approaches and commitment to their stakeholders to run long -term permanent growth.
LFG Executive Chairman Lim Chern Wui said, “The huge support of our shareholders reflects their new strategic vision and we are taking bold steps to bring LFG to new heights. Acquisitions mark a transformative milestone that will significantly increase our fleet capabilities and expand our market appearance. By integrating these strategic assets, we are actively keeping ourselves in position to serve a comprehensive customer base and strengthened our standing as a major player in the offshore, energy and transport service industry We do.
“It was aligned with it, our ribranding for Lions Fleet Group Berhad represents more than only one name change. It indicates our commitment to develop over time and promote a strong corporate identity that our commitment Extended operations and better align with new strategic goals. Put forward new opportunities.
