(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 16 December 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 16 December 2020 and 4 January 2021.

On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities had, vide its letter dated 6 January 2021, approved the listing and quotation of up to 245,193,000 Placement Shares to be issued pursuant to the Private Placement.

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

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

(ii)        Vsolar and Mercury Securities to inform Bursa Securities upon the completion of the Private Placement; and

(iii)        Vsolar to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Private Placement is completed.

This announcement is dated 6 January 2021.