(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 9 February 2021 in relation to the Proposals, where applicable, unless stated otherwise or defined herein.)

We refer to the earlier announcement in relation to the Proposals dated 9 February 2021.

On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities had, vide its letter dated 18 March 2021 (which was received on 19 March 2021), approved the following:-

(i)         listing and quotation of up to 166,433,000 new Shares to be issued pursuant to the Proposed Private Placement;

(ii)        admission to the Official List and listing and quotation of up to 1,081,814,631 Warrants B to be issued pursuant to the Proposed Rights Issue with Warrants;

(iii)        listing and quotation of up to 1,442,419,508 Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;

(iv)       listing and quotation of up to 1,081,814,631 new Shares to be issued pursuant to the exercise of Warrants B; and

(v)        listing of such number of additional new Shares, representing up to 15% of the total number of issued Shares of the Company (excluding treasury shares, if any), to be issued pursuant to the Proposed ESOS.

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

(i)         AEM and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals including compliance with Paragraph 6.50 of the Listing Requirements;

(ii)        AEM and Mercury Securities are required to inform Bursa Securities upon the completion of the Proposed Private Placement and Proposed Rights Issue with Warrants;

(iii)        AEM / Mercury Securities is required to furnish Bursa Securities with a certified true copy of the resolutions passed by the Shareholders approving the Proposed Private Placement and Proposed Rights Issue with Warrants prior to the listing and quotation of the Placement Shares, Rights Shares and Warrants B;

(iv)       Mercury Securities is required to submit a confirmation to Bursa Securities of full compliance of the Proposed ESOS pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation together with a certified true copy of the resolution passed by the Shareholders in general meeting approving the Proposed ESOS;

(v)        AEM is required to furnish Bursa Securities on a quarterly basis a summary of the total number of Shares listed pursuant to the issuance of new Shares under the Proposed ESOS and exercise of Warrants B as at the end of each quarter together with a detailed computation of listing fees payable;

(vi)       AEM / Mercury 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 and Proposed Rights Issue with Warrants are completed; and

(vii)       Mercury is required to furnish Bursa Securities with details of the placees in accordance with Paragraph 6.15 of the Listing Requirements for Bursa Securities’ review, prior to the issuance / allotment of the Placement Shares.

This announcement is dated 19 March 2021.