(For consistency, the abbreviations and definitions used throughout this announcement shall have the same meanings as defined in the announcement dated 17 December 2019 in relation to the Proposals, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcement dated 17 December 2019.

On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities had, vide its letter dated 13 January 2020, approved the following:-

(i) listing and quotation of up to 98,600,000 new ordinary shares to be issued pursuant to the Proposed Share Issuance; and

(ii) listing and quotation of such number of additional new ordinary shares representing up to 15% of the issued share capital of OCR, to be issued upon exercise of options under the Proposed ESOS.

The approvals by Bursa Securities for the above are subject to, amongst others, the following conditions:-

(i) OCR and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Share Issuance and Proposed ESOS;

(ii) OCR and Mercury Securities to inform Bursa Securities upon the completion of the Proposed Share Issuance;

(iii) OCR / Mercury Securities to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed Share Issuance prior to the listing and quotation of the new ordinary shares to be issued pursuant to the Proposed Share Issuance;

(iv) OCR and 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 Share Issuance is completed;

(v) OCR 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 the following:-

      (a) a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed ESOS; and

      (b) letter of compliance in relation to the ESOS By-Laws pursuant to Paragraph 2.12 of the Listing Requirements together with a copy of the final ESOS By-Laws; and

(vi) OCR is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of options under the Proposed ESOS as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 14 January 2020.