On behalf of the Board of Directors of the Company (“Board”), Mercury Securities Sdn Bhd (“Mercury Securities”) wishes to announce that the Company proposes to undertake the renounceable rights issue of up to 1,137,789,807 new ordinary shares in the Company ("Tiger Shares" or "Shares") ("Rights Shares") together with up to 1,137,789,807 free detachable warrants in the Company ("Warrants D") on the basis of 3 Rights Shares together with 3 free Warrants D for every 4 existing Shares held by the entitled shareholders of the Company on an entitlement date to be determined ("Proposed Rights Issue with Warrants").

Please refer to the attachment for further details on the above.

This announcement is dated 13 January 2021.