We refer to Dolphin’s announcements made on 27 February 2020, 18 March 2020, 1 April 2020, 14 May 2020 and 5 June 2020 in relation to the Rights Issue. For consistency purposes, all defined terms and abbreviations used in this announcement shall carry the same meaning as those previously defined in Dolphin’s circular to shareholders dated 14 May 2020 in relation to, amongst others, the Rights Issue.

On behalf of the Board, Mercury Securities wishes to announce that Dolphin had on 9 July 2020 entered into an underwriting agreement in relation to the Rights Issue with the following parties:

(i)  Mercury Securities, being the Managing Underwriter and a Joint Underwriter; and

(ii) Kenanga Investment Bank Berhad, being a Joint Underwriter.       

The Joint Underwriters will underwrite a total of 180,000,000 Rights Shares representing approximately 84.3% of the Rights Shares to be issued under the Minimum Subscription Level. The remaining 15.7% or 33,577,500 Rights Shares to be issued under the Minimum Subscription Level shall be subscribed by Asia Poly pursuant to its Undertaking.

This announcement is dated 9 July 2020.