We refer to the announcements made on 3 March 2021 and 9 March 2021 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, Kenanga IB wishes to announce that Bursa Securities has, vide its letter dated 24 March 2021, approved the following:

1. admission to the Official List and listing of up to 47,924,100 Warrants to be issued pursuant to the Proposed Free Warrants Issue;
2. listing of up to 47,924,100 new Xian Leng Shares to be issued arising from the exercise of the Warrants; and
3. listing of such number of additional new ordinary shares, representing up to 15% of the total number of issued ordinary shares of Xian Leng (excluding treasury shares), to be issued pursuant to the Proposed LTIP.

The approval granted by Bursa Securities is subject to the following conditions:

1. Xian Leng and Kenanga IB must fully comply with the relevant provisions under the Main Market Listing Requirements (“Listing Requirements”) pertaining to the implementation of the Proposals;
2. Xian Leng is required to furnish Bursa Securities with certified true copy of the resolutions passed by the shareholders at the extraordinary general meeting approving the Proposals;
3. Xian Leng and Kenanga IB are required to inform Bursa Securities upon completion of the Proposals;
4. Xian Leng is required to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals are completed;
5. Kenanga IB is required to submit a confirmation to Bursa Securities of full compliance of the Proposed LTIP pursuant to paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation; and
6. Payment of additional listing fees pertaining to the exercise of Warrants and exercise of LTIP Options, if relevant. In this respect, Xian Leng is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants and exercise of LTIP Options respectively as at the end of each quarter together with a detail computation of the listing fees payable.

This announcement is dated 25 March 2021.