Investor Relations

Reference is made to the Company’s announcements dated 16 March 2023, 17 March 2023, 14 April 2023, 17 April 2023, 3 May 2023, 26 May 2023, 7 June 2023, 14 June 2023, 15 June 2023, 16 June 2023, 20 June 2023, 22 June 2023, 23 June 2023, 26 June 2023, 27 June 2023, 4 July 2023 and 20 July 2023 in relation to the Placement (“Announcements”).

Unless otherwise stated, all defined terms and abbreviations used in this announcement shall carry the same meaning as those previously defined in the Announcements.

On behalf of the Board, Mercury Securities wishes to announce that the Company and Macquarie Bank had on 11 August 2023 mutually agreed to terminate the Subscription Agreement effective 15 August 2023 with no subscriptions to be made up to such date, subject to the Company paying termination fee of RM2.5 million to Macquarie Bank by 15 August 2023 ("Termination”).

The Termination was decided by the Board after taking into consideration, amongst others, the Group’s current financial conditions as well as the adequacy of its financial resources for its on-going business activities. Barring unforeseen circumstances, save for the termination fee to be incurred by the Group of RM2.5 million, the Termination is not expected to have any other material effect to the Group’s financial results for the financial year ending 31 December 2023.

As at 11 August 2023, the Company had issued 4,850,000 Placement Shares under the Placement, raising total gross proceeds of RM12.8million.

This announcement is dated 11 August 2023.