Reference is made to the Company’s announcements dated 11 March 2021 and 16 March 2021 in relation to the Private Placement (“Announcements”). Unless stated otherwise or defined herein, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the Announcements.

On behalf of the Board of Parkson, Mercury Securities is pleased to announce that Bursa Securities had vide its letter dated 18 March 2021, approved the listing of and quotation for up to 106,718,000 new Parkson Shares to be issued pursuant to the Proposed Private Placement on the Main Market of Bursa Securities (“Bursa’s Approval”).

The Bursa’s Approval is subject to the following conditions:-

(i)         Parkson and Mercury Securities must fully comply with the relevant provisions under the Bursa Securities Main Market Listing Requirements (“LR”) pertaining to the implementation of the Proposed Private Placement;

(ii)         Parkson and Mercury Securities are required to inform Bursa Securities upon completion of the Proposed Private Placement;

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

(iv)        Mercury Securities is required to furnish Bursa Securities with details of the placees in accordance with Paragraph 6.15 of the LR as soon as practicable after each tranche of placement and before the listing of the new Parkson Shares to be issued pursuant to the Proposed Private Placement.

This announcement is dated 18 March 2021.