Lion Forest Shares For Silverstone Corporation’s Shareholders


KUALA LUMPUR, 19 September 2008 – Lion Forest Industries Berhad (“LFIB”) announced that the Offer Document in relation to its proposed Conditional Take-Over Offer (“Offer”) to acquire Silverstone Corporation Berhad’s (“SCB”) shares and redeemable cumulative convertible preference shares of RM0.01 each issued at a premium of RM0.99 by SCB (“RCCPS”) has been despatched to the holders of SCB’s ordinary shares and RCCPS today.

On 28 May 2008, LFIB had announced its Offer to acquire:

(a) the remaining 339,878,875 ordinary shares of RM1.00 each fully paid in SCB (“SCB Shares”) not already held by LFIB, representing approximately 99.95% of SCB’S existing issued and paid-up ordinary share capital, and all the new SCB Shares that may be issued and allotted prior to the closing date of the Offer pursuant to the conversion of any remaining RCCPS (collectively the “Offer Shares”), to be satisfied by the issue and allotment of one (1) new ordinary share of RM1.00 each in LFIB (“LFIB Share”) at an issue price of RM1.00 each (“Issue Price”) for every fifteen (15) existing Offer Shares held, or an aggregate of up to 24,393,608 new LFIB Shares; and

(b) the remaining 28,627,764 RCCPS not already held by Jadeford International Limited, a wholly-owned subsidiary of LFIB, representing approximately 93.63% of the existing RCCPS in issue (“Offer RCCPS”), to be satisfied by the issue and allotment of two (2) new LFIB Shares at the Issue Price for every thirty-three (33) existing Offer RCCPS held, or an aggregate of up to 1,735,016 new LFIB Shares.

Copies of the Offer Document and Forms of Acceptance and Transfer are also available from the Registrar for the Offer, Secretarial Communications Sdn Bhd, Level 46, Menara Citibank, 165 Jalan Ampang, 50450 Kuala Lumpur from 9.00 am to 5.00 pm from Mondays to Fridays except public holidays from 19 September 2008 to the closing date of the Offer on 4 November 2008 or such later date as LFIB may decide in accordance with the Malaysian Code on Take-Overs and Mergers 1998 (as amended from time to time and any re-enactment thereof). The Offer Document can also be downloaded at

LFIB is principally involved in investment holding, trading and distribution of building materials, and trading of steel products. The principal activities of its subsidiary companies and an associated company are investment holding; manufacturing, trading, and distribution of petroleum products; trading and distribution of building materials, consumer products, lubricants, spark plugs and automotive components; provision of energy management and conservation services; manufacturing and distribution of tyres in China; development of oil palm plantations; assembly and sale of private and commercial vehicles; and provision of transportation services.

SCB is principally an investment holding company. The principal activities of its subsidiaries and associated companies are in the manufacturing, sale and distribution of tyres, rubber compounds and other related products; retreading tyres as well as the manufacturing of motorcycle parts and accessories; sale and distribution of motor vehicles; and provision of training services.

The Offer would allow LFIB to streamline the LFIB Group’s tyre manufacturing business by consolidating SCB’s tyre business into LFIB to benefit from the technological, manufacturing and brandname synergies between LFIB’s and SCB’s tyre businesses.

As for existing SCB shareholders, the Offer provides an avenue for them to exchange their illiquid shareholdings in SCB (SCB was delisted from the Main Board of Bursa Securities on 13 April 2007) for listed LFIB Shares under an enlarged and stronger entity with exposure to LFIB’s tyre business in the People’s Republic of China including the other businesses of the LFIB Group.


For further information, kindly contact Ms Quah Le Ching, Corporate Communications Department at tel. no. 21622155 ext 2505, 21632028 (DL), fax no. 21618409 or email: