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(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 6 October 2020, 14 December 2020, 18 October 2021 and 12 November 2021, where applicable, unless stated otherwise or defined herein.)

We refer to the announcements dated 18 October 2021 and 12 November 2021 in relation to the Proposed Debt Restructuring involving the Scheme Creditors.

On behalf of the Board of Directors of AAX, Mercury Securities wishes to announce that AAX had filed an application to the High Court of Malaya pursuant to Section 366 of the Companies Act, 2016 for approval and/or sanction of the Proposed Debt Restructuring and the High Court of Malaya had, at the hearing today, granted an order thereof (“Sanction Order”). The Proposed Debt Restructuring will take effect upon lodgement of the Sanction Order with the Registrar of Companies of Malaysia.

This announcement is dated 16 December 2021.

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