(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 22 July 2020 in relation to the Proposals, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcement dated 22 July 2020.

On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities had, vide its letter dated 28 July 2020 (“Letter"), resolved to approve the listing of such number of additional new Shares, representing up to 15% of the total number of the Company’s issued shares (excluding treasury shares), to be issued upon the exercise of the Options under the Proposed ESOS subject to the following conditions:-

(i)         Mercury Securities is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation together with a certified true copy of the resolution passed by the Shareholders in a general meeting approving the Proposed ESOS;

(ii)         XDL is required to furnish Bursa Securities on a quarterly basis a summary of the total number of Shares listed pursuant to the issuance of new Shares under the Proposed ESOS as at the end of each quarter together with a detailed computation of listing fees payable; and

(iii)        to incorporate Bursa Securities’ comments in respect of the draft circular to Shareholders as set out in the Letter.

This announcement is dated 28 July 2020.