(For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcement dated 11 December 2020 in relation to the Proposals.)

We refer to the announcement in relation to the Proposals dated 11 December 2020.

On behalf of the Board, Mercury Securities wishes to announce that Bursa Securities has, vide its letter dated 12 January 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 442,377,000 Warrants to be issued pursuant to the Proposed Bonus Issue of Warrants on the ACE Market of Bursa Securities; and

(iii)        listing and quotation of up to 442,377,000 new Oversea Shares to be issued arising from the exercise of the Warrants on the ACE Market of Bursa Securities.

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

(i)         Oversea and Mercury Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposed Bonus Issue of Warrants;

(ii)         Oversea and Mercury Securities to inform Bursa Securities upon the completion of the Proposed Bonus Issue of Warrants;

(iii)        Oversea to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Bonus Issue of Warrants is completed; and

(iv)        Oversea 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 12 January 2021.