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(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcement dated 10 October 2019 in relation to the Proposed Private Placement, where applicable, unless stated otherwise or defined herein.)

Reference is made to the earlier announcement dated 10 October 2019.

On behalf of the Board, Mercury Securities is pleased to announce that Bursa Securities has, vide its letter dated 17 October 2019, approved the listing and quotation of up to 70,574,600 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)         KAB and Mercury Securities must fully comply with the relevant provisions under the ACE Market Listing Requirements pertaining to the implementation of the Proposed Private Placement;

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

(iii)        KAB 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.

This announcement is dated 17 October 2019.