Abbreviations used herein shall be the same as those defined in the earlier announcements in relation to the Bonus Issue of Warrants.

On behalf of the Board, M&A Securities is pleased to announce that the Board has resolved to fix the exercise price for the Warrants at RM0.285 per Warrant.

The exercise price of the Warrants was determined by the Board after taking into consideration, amongst others, the following:

(i)         the historical share price movement of Mestron Shares and prevailing market conditions;

(ii)        the 5D-VWAMP of Mestron Shares up to and including 22 July 2021 of RM0.3873 per Share, being the market day immediately preceding the date of this announcement; and

(iii)       the future funding requirements of the Group.

The exercise price of the Warrants represents a discount of approximately 19.31% to the theoretical ex-all price of Mestron Shares of RM0.3532 per Share.

Premised on the above, the Board is of the view that the exercise price of the Warrants is fair.

This announcement is dated 23 July 2021.