On behalf of the Board of Directors of Vortex (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following:

(i) proposed private placement of up to 20% of the total number of issued ordinary shares in Vortex (“Vortex Share(s)”) (excluding treasury shares) (“Proposed Private Placement”);

(ii) proposed consolidation of every 4 existing into 1 Vortex Share (“Proposed Share Consolidation”); and

(iii) proposed renounceable rights issue of up to 370,844,139 new Vortex Shares (“Rights Share(s)”) on the basis of 1 Rights Share for every 1 Vortex Share held on an entitlement date to be determined later, together with up to 296,675,311 free detachable warrants C (“Warrant(s) C”) on the basis of 4 Warrants C for every 5 Rights Shares subscribed for (“Proposed Rights Issue”).

Further, the Company also intends to make amendment to its Constitution to facilitate the adjustments to the irredeemable convertible preference shares in the Company (“ICPS”) pursuant to the Proposed Share Consolidation and Proposed Rights Issue (“Proposed Amendment”).

Please refer to the attachment below for further details of the Proposals.

This announcement is dated 19 October 2020.