(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 28 June 2022 in relation to the Proposed Bonus Issue of Warrants, where applicable, unless stated otherwise or defined herein.)

Reference is made to the announcement dated 28 June 2022 in relation to the Proposed Bonus Issue of Warrants.

On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities had, vide its letter dated 12 July 2022, resolved to approve the following:-

(i)         admission to the Official List and the listing and quotation of up to 1,479,643,278 new Warrants C to be issued pursuant to the Proposed Bonus Issue of Warrants; and

(ii)         listing and quotation of up to 1,479,643,278 new Shares to be issued arising from the exercise of the new Warrants C.

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

(i)         The maximum new Shares to be issued arising from the exercise of the new Warrants C must be in full compliance with Paragraph 6.50 of the Listing Requirements at all times;

(ii)         Tanco and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Bonus Issue of Warrants;

(iii)        Mercury Securities to inform Bursa Securities upon the completion of the Proposed Bonus Issue of Warrants;

(iv)        Mercury Securities 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 Warrants is completed;

(v)        Tanco to furnish Bursa Securities on a quarterly basis a summary of the total number of Shares listed pursuant to the exercise of new Warrants C as at the end of each quarter together with a detailed computation of listing fees payable; and

(vi)        To incorporate Bursa Securities’ comments in respect of draft circular to Shareholders.

This announcement is dated 13 July 2022.