Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the earlier announcements in relation to the Rights Issue with Warrants.

Reference is made to the earlier announcements dated 29 March 2021, 22 April 2021, 11 May 2021, 3 June 2021, 14 June 2021,15 June 2021, 28 June 2021 and 1 July 2021 in relation to the Rights Issue with Warrants.

On behalf of the Board, UOB Kay Hian wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue with Warrants as at 5.00 p.m. on Tuesday, 13 July 2021, the total valid acceptances and excess applications for the Rights Issue with Warrants were 652,661,733 Rights Shares, which represents an over-subscription of 67.63% over the total number of 389,342,813 Rights Shares available for subscription under the Rights Issue with Warrants, the details of which are set out below:-

Successful applicants of the Rights Shares will be given Warrants on the basis of 1 Warrant for every 1 Rights Share successfully subscribed for.

It is the intention of the Board to allot the Excess Rights Shares on a fair and equitable basis. The Board has applied the following basis and priority in allocating the Excess Rights Shares with Warrants, in accordance with the Abridged Prospectus dated 28 June 2021:-

(i)         firstly, to minimise the incidence of odd lots;

(ii)         secondly, on a pro-rata basis and in board lots, to the Entitled Shareholders who have applied for Excess Rights Shares with Warrants, taking into consideration their respective shareholdings in the Company as at the Entitlement Date;

(iii)        thirdly, on a pro-rata basis and in board lots, to the Entitled Shareholders who have applied for Excess Rights Shares with Warrants, taking into consideration the quantum of their respective Excess Rights Shares with Warrants Applications; and

(iv)        finally, on a pro-rata basis and in board lots, to the transferee(s) and/ or renouncee(s) who have applied for Excess Rights Shares with Warrants, taking into consideration the quantum of their respective Excess Rights Shares with Warrants applications.

The Excess Rights Shares with Warrants will firstly be allocated to minimise the odd lots (if any) held by each applicant of Excess Rights Shares with Warrants. Thereafter, the allocation process will perform items (ii), (iii) and (iv) in succession. Any remaining balance of Excess Rights Shares with Warrants will be allocated by performing the same sequence of allocation i.e. items (ii), (iii) and (iv) again in succession until all Excess Rights Shares with Warrants are allotted.

Notwithstanding the foregoing, the Board reserves the right to allot any Excess Rights Shares with Warrants applied for under Part I(B) of the RSF in such manner as it deems fit and expedient and in the best interests of the Company subject always to such allocation being made on a fair and equitable basis, and that the intention of the Board as set out in steps (i), (ii), (iii) and (iv) above is achieved. The Board also reserves the right at its absolute discretion not to accept any application for Excess Rights Shares with Warrants, in full or in part, without assigning any reason thereof.

The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Securities on 28 July 2021.

This announcement is dated 21 July 2021.