(All abbreviations used in this announcement are defined in the announcement dated 13 July 2020)

Reference is made to the announcements dated 13 July 2020 and 23 July 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 23 July 2020, resolved to approve the listing of and quotation for up to 20,999,900 Placement Shares to be issued pursuant to the Proposed Private Placement 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 (“ACE LR”) pertaining to the implementation of the Proposed Private Placement;

(ii)        JF Tech and M&A Securities to inform Bursa Securities upon the completion of the Proposed Private Placement;

(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 Private Placement is completed; and

(iv)       JF Tech to furnish Bursa Securities with a certified true copy of the resolution passed pursuant to Section 75 of the Companies Act 2016, in the event the current authority has expired.

This announcement is dated 24 July 2020.