(Unless otherwise defined, defined terms used in this announcement shall carry the same meanings as defined in the announcements dated 17 September 2020 and 25 September 2020 in relation to the Proposals (“Announcements”))

We refer to the Announcements in relation to the Proposals.

On behalf of the Board of Directors of ACO, Alliance Investment Bank Berhad (“AIBB”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had, vide its letter dated 16 October 2020, approved the listing and quotation of:-

(i) up to 56,500,000 new ACO Shares to be issued pursuant to the Proposed Private Placement; and

(ii) 3,500,000 new ACO Shares to be issued pursuant to the Proposed Acquisition.

The approval granted by Bursa Securities for the Proposed Private Placement and Proposed Acquisition is subject to the following conditions:-

(i) ACO and AIBB must fully comply with the relevant provisions under the ACE Market Listing Requirements (“ACE LR”) pertaining to the implementation of the Proposed Private Placement and Proposed Acquisition respectively;

(ii) ACO and AIBB to inform Bursa Securities upon the completion of the Proposed Private Placement and Proposed Acquisition respectively;

(iii) ACO to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Private Placement and Proposed Acquisition are completed respectively; and

(iv) Compliance by ACO with the public shareholding spread upon completion of the Proposed Acquisition. In this connection, AIBB is to furnish a schedule containing the information set out in Appendix 8E, Chapter 8 of the ACE LR to Bursa Securities, prior to completion of the Proposed Acquisition.

This announcement is dated 16 October 2020.