Unless otherwise defined, the definitions set out in the previous announcements in relation to the Proposals shall apply herein.

On behalf of the Board, M&A Securities is pleased to announce that Bursa Securities had vide its letter dated 29 January 2024 (“Approval Letter”), resolved to approve the following:

1. listing of and quotation for 18,496,345 new ordinary shares in SCIB to be issued pursuant to the Proposed Capitalisation; and
2. listing of and quotation for such number of additional new ordinary shares in SCIB representing up to 15% of the total number of issued shares of SCIB to be issued pursuant to the Proposed LTIP.

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

1. SCIB and M&A Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;
2. M&A Securities to inform Bursa Securities upon the completion of the Proposed Capitalisation;
3. M&A Securities to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Capitalisation is completed;
4. SCIB to furnish Bursa Securities with a certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed Capitalisation;
5. M&A Securities is required to submit a confirmation to Bursa Securities of full compliance of the Proposed LTIP pursuant to Paragraph 6.43(1) of the Listing Requirements and stating the effective date of implementation, together with the following:
   • A certified true copy of the resolution passed by the shareholders in general meeting approving the Proposed LTIP; and
   • Letter of compliance in relation to the By-Laws pursuant to Paragraph 2.12 of the Listing Requirements together with a copy of the final By-Laws.
6. SCIB is required to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of options under the Proposed LTIP as at the end of each quarter together with a detailed computation of listing fees payable;
7. M&A Securities/ SCIB to provide quarterly updates via Bursa LINK (simultaneously with the submission of Quarterly Report) on the following information relating to the Proposed LTIP:
   • Date and aggregate number of options and shares offered since the commencement of the Proposed LTIP with the following breakdown;
     • Percentage (based on the total number of options and shares) offered for each band as well as the number of allottees as follows:
       • Executive Directors;
       • Independent Non-Executive Directors;
       • Senior Management;
       • Middle Management;
       • Executives; and
       • Junior Executives/ clerical staffs
   • Date and aggregate number of options and shares exercised/vested since the commencement of Proposed LTIP with the following breakdown;

     • Percentage (based on the total number of options and shares) offered for each band as well as the number of allottees as follows:

       • Executive Directors;
       • Independent Non-Executive Directors;
       • Senior Management;
       • Middle Management;
       • Executives; and
       • Junior Executives/ clerical staffs
   • Total number of options and shares that remain outstanding.
   • Exercise price of options (for each tranche) and basis in arriving at the exercise price.
   • Total proceeds raised from the options exercised and shares vested (if any) and breakdown of actual utilization of proceeds.

This announcement is dated 29 January 2024.