On behalf of the Board of Directors of Xianlng, M&A Securities Sdn Bhd wishes to announce that the Company proposes to undertake a private placement of up to 15,911,300 new ordinary shares in Xianlng (“Xianlng Shares” or “Shares”), representing not more than 20% of the issued ordinary shares in Xianlng (“Proposed Private Placement”).

The Proposed Private Placement shall be undertaken in accordance with the general mandate pursuant to Sections 75 and 76 of the Companies Act, 2016 approved by the shareholders of Xianlng at the Annual General Meeting of the Company held on 22 July 2020 which authorises the Board to issue new Xianlng Shares not exceeding 20% of the total number of issued shares of the Company (“20% General Mandate”). The 20% General Mandate, unless revoked or varied by the Company at a general meeting, shall continue to be in force until the conclusion of the next AGM of the Company.

Kindly refer to the attached announcement for further details of the Proposed Private Placement.

This announcement is dated 2 February 2021.