(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 9 October 2020 in relation to the Proposed Bonus Issue of Warrants, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcement in relation to the Proposed Bonus Issue of Warrants dated 9 October 2020.

On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities has, vide its letter dated 19 October 2020, approved the following:-

(i)         admission to the Official List and listing and quotation of up to 1,336,281,385 Warrants C to be issued pursuant to the Proposed Bonus Issue of Warrants; and

(ii)         listing and quotation of up to 1,336,281,385 new Shares to be issued arising from exercise of the Warrants C.

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

(i)         XOX and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Bonus Issue of Warrants;

(ii)         XOX and Mercury Securities to inform Bursa Securities upon the completion of the Proposed Bonus Issue of Warrants;

(iii)        XOX to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Bonus Issue of Warrants is completed; and

(iv)        XOX to furnish Bursa Securities on a quarterly basis a summary of the total number of Shares listed pursuant to the exercise of Warrants C as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 19 October 2020.