Reference is made to the Company’s announcement on 25 February 2021 and 17 March 2021 in relation to the Proposals ("Earlier Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Earlier Announcements.

On behalf of VSI, AmInvestment Bank is pleased to announce that Bursa Securities had, vide its letter dated 6 April 2021, approved the following:-

1. listing of and quotation for up to 1,920,788,116 new ordinary shares in VSI (“VSI Share(s)”) to be issued pursuant to the Proposed Bonus Issue of Shares;
2. admission to the Official List and listing of and quotation for up to 768,315,246 new warrants in VSI (“Warrant(s)”) pursuant to the Proposed Bonus Issue of Warrants; and
3. listing of and quotation for up to 768,315,246 new VSI Shares to be issued pursuant to the exercise of the Warrants.

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

1. VSI and AmInvestment Bank must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”) pertaining to the implementation of the Proposals;
2. VSI and AmInvestment Bank to inform Bursa Securities upon the completion of the Proposals;
3. VSI and AmInvestment Bank 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;
4. VSI or AmInvestment Bank is required to furnish Bursa Securities with a certified copy of the resolution passed by the shareholders at the forthcoming general meeting for the Proposed Bonus Issue of Shares prior to the listing and quotation of the Bonus Shares;
5. VSI or AmInvestment Bank is required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a) & (b) and 6.35(4) of the Listing Requirements in relation to the Proposed Bonus Issue of Shares; and
6. VSI 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 under the Proposed Bonus Issue of Warrants as at the end of each quarter.

This announcement is dated 6 April 2021.