(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 25 September 2020 in relation to the Private Placement, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcements in relation to the Private Placement dated 25 September 2020, 9 October 2020, 12 November 2020, 24 November 2020 and 2 December 2020.

Earlier, the Company has issued a total of 413,938,600 Placement Shares via the following tranches:-

(i)         200,000,000 Placement Shares, being the first tranche of Placement Shares for the Private Placement, on the ACE Market of Bursa Securities on 17 November 2020;

(ii)         100,000,000 Placement Shares, being the second tranche of Placement Shares for the Private Placement, on the ACE Market of Bursa Securities on 30 November 2020; and

(iii)        113,938,600 Placement Shares, being the third and final tranche of Placement Shares for the Private Placement, on the ACE Market of Bursa Securities on 7 December 2020.

Further to the above, Mercury Securities wishes to announce, on behalf of the Board, that the Company has decided not to place out the remaining 110,876,400 Placement Shares out of the 524,815,000 Placement Shares allocated under the Maximum Scenario. As such, the Private Placement is deemed completed.

This announcement is dated 7 December 2020.