(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 2 April 2021 in relation to the Proposed Private Placement, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcements in relation to the Proposed Private Placement dated 2 April 2021 and 6 April 2021.

On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities had, vide its letter dated 11 May 2021, approved the listing and quotation of up to 500,428,000 Placement Shares to be issued pursuant to the Proposed Private Placement.

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

(i)         Metronic and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Private Placement;

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

(iii)        Metronic to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed Private Placement;

(iv)        Metronic and Mercury Securities 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

(v)        To incorporate the comments made in the Circular to shareholders provided in Bursa Securities’ approval letter.

This announcement is dated 11 May 2021.