(All abbreviations used in this announcement are defined in the announcement dated 5 October 2020)

Reference is made to the announcements dated 5 October 2020 and 28 October 2020. On behalf of the Board of Directors of JF Tech, M&A Securities is pleased to announce that Bursa Securities had vide its letter dated 12 November 2020, resolved to approve the following:

(i) Admission to the Official List and listing and quotation of up to 461,999,170 Warrants to be issued pursuant to the Proposed Bonus Issue of Shares with Warrants; and

(ii) Listing and quotation of:

     (a) Up to 692,998,755 Bonus Shares to be issued pursuant to the Proposed Bonus Issue of Shares with Warrants.

     (b) Up to 461,999,170 new JF Tech Shares to be issued arising from exercise of the Warrants.

The approval granted by Bursa Securities for the Proposed Bonus Issue of Shares with Warrants is subject to the following conditions:

(i) JF Tech and M&A Securities must fully comply with the relevant provisions under the ACE Market Listing Requirements of Bursa Securities (“ACE LR”) pertaining to the implementation of the Proposed Bonus Issue of Shares with Warrants;

(ii) JF Tech and M&A Securities to inform Bursa Securities upon the completion of the Proposed Bonus Issue of Shares with Warrants;

(iii) JF Tech to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Bonus Issue of Shares with Warrants is completed;

(iv) JF Tech and M&A Securities are required to make the relevant announcements pursuant to Rules 6.36(2)(a) and (b), and 6.36(4) of the ACE LR; and

(v) JF Tech to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants as at the end of each quarter together with a detailed computation of listing fees payables.

JF Tech is required to ensure full compliance of all the requirements as provided under the ACE LR at all times.

This announcement is dated 13 November 2020.