We refer to the announcements dated 28 October 2022, 27 December 2022, 11 January 2023, 2 February 2023, 24 February 2023, 16 March 2023, 5 May 2023, 13 June 2023, 14 June 2023, 6 July 2023, 10 July 2023, 25 July 2023, 26 July 2023, 27 July 2023, 2 August 2023, 24 August 2023, 24 October 2023, 8 November 2023 and 9 November 2023 in relation to the Corporate Exercises (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, TA Securities wishes to announce that as at the close of acceptance, excess application and payment for the Rights Issue at 5.00 p.m. on 27 November 2023 (“Closing Date”), the Company has received valid acceptance and excess applications for a total of 87,788,833 Rights Shares, representing a subscription rate of 124.47% over the total number of Rights Shares available for subscription under the Rights Issue on the Entitlement Date, resulting in an over-subscription rate 24.47%.

The details of valid acceptances and excess applications received as at the Closing Date are as follows:

No. of Rights Shares

Percentage of total Rights Shares available for subscription (%)

Total valid acceptances

41,160,305

58.36

Total valid excess applications

46,628,528

66.11

Total valid acceptances and excess applications

87,788,833

124.47

Total Rights Shares available for subscription on the Entitlement Date

70,532,348

100.00

Over-subscription

17,256,485

24.47

The successful applicants for the Rights Shares will be given Warrants C on the basis of 4 Warrants C for every 5 Rights Shares subscribed for.

In accordance with the procedure for excess application as stipulated in the Abridged Prospectus in relation to the Rights Issue dated 9 November 2023, the Board has allotted the excess Rights Shares in a fair and equitable basis as it deems fit, expedient and in the best interest of the Company in the following priority:

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

(ii)           secondly, for allocation to the Entitled Shareholders who have applied for excess Rights Shares with Warrants C, on a pro-rata basis and in board lot, calculated based on their respective shareholdings in the Company as per their CDS Accounts on the Entitlement Date;

(iii)       thirdly, for allocation to the Entitled Shareholders who have applied for excess Rights Shares with Warrants C, on a pro-rata basis and in board lot, calculated based on the quantum of their respective excess Rights Shares with Warrants C applied for; and

(iv)       lastly, for allocation to their renouncee(s)/transferee(s) (if applicable) who has/have applied for excess Rights Shares with Warrants C, on a pro-rata basis and in board lot, calculated based on the quantum of their respective excess Rights Shares with Warrants C applied for.

For the remaining excess Rights Shares with Warrants C after steps (i) to (iv) have been carried out, steps (ii) to (iv) have been repeated in the same sequence until all remaining excess Rights Shares with Warrants C have been allotted. Nevertheless, the Board reserves the right to allot any excess Rights Shares with Warrants C applied for in such manner as it deems fit, 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) to (iv) above are achieved. The Board also reserves the right at its absolute discretion not to accept in full or in part any application for excess Rights Shares with Warrants C without assigning any reason thereof.

The Rights Shares with Warrants C are expected to be listed and quoted on the Main Market of Bursa Securities on 11 December 2023.

This announcement is dated 1 December 2023.