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(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 15 July 2021 in relation to the Private Placement, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcements in relation to the Private Placement dated 15 July 2021, 23 July 2021, 1 September 2021, 28 September 2021, 9 November 2021, 7 January 2022, 13 January 2022, 21 January 2022 and 31 July 2022.

Earlier, the Company has issued a total of 116,100,000 Placement Shares via the following tranches:-

(i)         23,000,000 Placement Shares and 2,000,000 Placement Shares, being the first tranche of Placement Shares for the Private Placement, on the Main Market of Bursa Securities on 14 September 2022 and 15 September 2022, respectively;

(ii)         32,500,000 Placement Shares, being the second tranche of Placement Shares for the Private Placement, on the Main Market of Bursa Securities on 8 October 2021;

(iii)        28,600,000 Placement Shares, being the third tranche of Placement Shares for the Private Placement, on the Main Market of Bursa Securities on 17 November 2021;

(iv)        20,000,000 Placement Shares, being the fourth tranche of Placement Shares for the Private Placement, on the Main Market of Bursa Securities on 31 January 2022; and

(v)        10,000,000 Placement Shares, being the fifth tranche of Placement Shares for the Private Placement, on the Main Market of Bursa Securities on 20 July 2022.

Further to the above, Mercury Securities wishes to announce, on behalf of the Board, that the approval granted by Bursa Securities for an extension of time for the Company to complete the implementation of the Private Placement will lapse on 21 July 2022. To this end, the Company has decided not to place out the remaining 53,080,000 Placement Shares available for placement. As such, the Private Placement is deemed completed today.

This announcement is dated 20 July 2022.