(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 18 December 2020 in relation to the Private Placement, where applicable, unless stated otherwise or defined herein.)

Reference is made to the announcements dated 18 December 2020 and 12 January 2021 in relation to the Private Placement.

On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities had, vide its letter dated 14 January 2021, approved the listing and quotation of up to 54,500,000 Placement Shares to be issued pursuant to the Private Placement.

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

(i)         Permaju and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Private Placement;

(ii)         Permaju and Mercury Securities to inform Bursa Securities upon the completion of the Private Placement;

(iii)        Permaju to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Private Placement is completed; and

(iv)        Mercury Securities to furnish Bursa Securities with details of the placees as per Paragraph 6.15 of the Listing Requirements for its review, prior to the issuance / allotment of the Placement Shares.

This announcement is dated 14 January 2021.