(For consistency, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements dated 28 July 2021 and 8 October 2021 in relation to the Proposals, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcements in relation to the Proposals dated 28 July 2021 and 8 October 2021.

On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities had, vide its letter dated 6 October 2021, approved the following:-

(i)         admission to the Official List and the initial listing and quotation of up to 572,554,997 Warrants B to be issued pursuant to the Proposed Rights Issue with Warrants;

(ii)         listing of up to 396,384,000 new Shares to be issued pursuant to Proposed Private Placement;

(iii)        listing of up to 319,417,134 additional Warrants A arising from the adjustments in accordance with the provisions of the deed poll for Warrants A, pursuant to the Proposed Rights Issue with Warrants (“Additional Warrants A”);

(iv)        listing of up to 1,717,664,991 Rights Shares to be issued pursuant to Proposed Rights Issue with Warrants;

(v)        listing of up to 572,554,997 new Shares to be issued pursuant to the exercise of Warrants B; and

(vi)        listing of up to 319,417,134 new Shares to be issued pursuant to the exercise of the Additional Warrants A.

The approval by Bursa Securities for the above is subject to the following conditions:-

(i)         Oversea and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

(ii)         Oversea and Mercury Securities to inform Bursa Securities upon the completion of the Proposals;

(iii)        Oversea to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals are completed;

(iv)        Oversea to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants B as at the end of each quarter together with a detailed computation of listing fees payable;

(v)        a certified true copy of the resolutions passed by shareholders at the extraordinary general meeting for the Proposals; and

(vi)        submission of written confirmation letter by Mercury Securities to Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”) that all conditions imposed by Bursa Securities which are required to be met before the listing and quotation of the securities have been fully complied with and/or fulfilled together with submission of the share certificate by Oversea and a cover letter containing the summary of the Proposed Private Placement and Proposed Rights Issue with Warrants to Bursa Depository before 10.00 a.m. on the market day prior to the listing date.

This announcement is dated 8 October 2021.