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(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 10 February 2021 in relation to the Proposals.)

We refer to the announcement in relation to the Proposals dated 10 February 2021.

On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities has, vide its letter dated 25 February 2021, resolved to approve the following:-

(i)         Proposed Share Split;

(ii)        admission to the Official List of Bursa Securities and listing and quotation of up to 881,927,638 Warrants to be issued pursuant to the Proposed Bonus Issue of Warrants on the Main Market of Bursa Securities; and

(iii)        listing and quotation of up to 881,927,638 new KAB Shares to be issued pursuant to the exercise of Warrants on the Main Market of Bursa Securities.

The approval granted by Bursa Securities is subject to the following conditions:-

(i)         KAB and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements at all times pertaining to the implementation of the Proposed Share Split and Proposed Bonus Issue of Warrants;

(ii)        KAB and Mercury Securities are required to inform Bursa Securities upon the completion of the Proposed Share Split and Proposed Bonus Issue of Warrants;

(iii)        KAB and Mercury Securities are required to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Share Split and Proposed Bonus Issue of Warrants are completed;

(iv)       KAB or Mercury Securities are required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a) and (b) and 6.35(4), of the Listing Requirements in relation to the Proposed Share Split;

(v)        KAB is required to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at extraordinary general meeting for the Proposed Share Split prior to the listing and quotation of the split shares; and

(vi)       KAB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of Shares listed pursuant to the exercise of Warrants as at the end of each quarter together with a detailed computation of listing fees payable.

This announcement is dated 26 February 2021.