LHN (01730): Purchase Option for Joint Venture B's Property Acquisition Terminated

Stock News

Oct 28, 2025

LHN (01730) announced that, in relation to its February 14, 2025, statement regarding the establishment of a joint venture, a deed was signed on October 28, 2025, by Joint Venture A, Joint Venture B, Joint Venture Partner B, the property seller, and THK. The parties agreed to immediately terminate the purchase option previously granted to Joint Venture B for the property (the "Termination").

The Termination follows a court order from the Republic of Singapore prohibiting the property seller and THK from disposing of or dealing with the property due to a family dispute. Following the Termination, the S$1.74 million paid by Joint Venture A on behalf of Joint Venture B to the property seller will be fully refunded six months after the signing of the deed.

No party shall make any claims or demands for losses, costs, compensation, or other matters arising from or related to the purchase option. Consequently, the property acquisition will no longer proceed.

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