The Board of Directors of LHN Group Pte Ltd proposed to spin off unknown minority stake in LHN Logistics Pte. Ltd. on November 24, 2021. Post completion, LHN Logistics Pte. Ltd. will list on the Catalist Board of the Singapore Exchange Securities Trading Limited and it will hold the logistics services business of the Group. The Spin-off would be subjected to approval of the shareholders of the LHN Limited. The Stock Exchange and the SGX-ST are still considering the LHN Limited's respective applications. The existing key management of the Logistics Services Business of the Group will continue to be the key management for the Spin-Off Group. There is no assurance that the Stock Exchange and the SGX-ST will approve the Proposed Spin-off. As of February 16, 2022, LHN Limited shareholders approved the Spin-off. LHN Limited has obtained the No Objection Decision from SGX-ST to the Proposed Spin-off (subject to certain conditions) on 14 December 2021 and The Board is pleased to announce that on 25 March 2022, the Company has obtained the PN15 Approval from the Stock Exchange for the Proposed Spin-off

LHN Limited has appointed PrimePartners Corporate Finance Pte. Ltd. in Singapore as the full sponsor. Morgan Lewis Stamford LLC and Morgan, Lewis & Bockius acted as legal advisors, Boardroom Corporate & Advisory Services Pte. Ltd. and Tricor Investor Services Public Office acted as registrar and PriceWaterhouseCoopers Singapore acted as auditor for LHN Limited.

The Board of Directors of LHN Group Pte Ltd completed the spin off unknown minority stake in LHN Logistics Pte. Ltd. on April 29, 2022.