Unless otherwise stated or redefined, all abbreviations and definitions used herein shall have the same meanings as those used in the Company’s announcements dated 15 September 2023, 26 September 2023 and 5 October 2023 (“Announcements”).

On behalf of the Board of Directors of the Company, M&A Securities is pleased to announce that Bursa Securities had vide its letter dated 27 October 2023, approved the following:

1. listing of and quotation of 100,000,000 Special Issue Shares to be issued pursuant to the Proposed Special Issue;
2. listing of and quotation of 200,000,000 Consideration Shares to be issued pursuant to the Proposed Acquisition;
3. admission to the Official List and listing of and quotation of 383,262,153 Warrants to be issued pursuant to the Proposed Rights Issue with Warrants;
4. listing of and quotation of 766,524,307 Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;and
5. listing of and quotation of up to 383,262,153 new Siab Shares to be issued arising from the exercise of the Warrants.

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

1. Siab and M&A Securities must fully comply with the relevant provisions under the ACE Market LR pertaining to the implementation of the Proposed Acquisition.
2. Siab and M&A Securities to inform Bursa Securities upon the completion of the Proposed Acquisition;
3. Siab to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Acquisition is completed.
4. Compliance by Siab with the public shareholding spread upon completion of the Proposed Acquisition and upon completion of the profit guarantee period. In this connection, M&A Securities is to furnish a schedule containing the information set out in Appendix 8E, Chapter 8 of the ACE Market LR to Bursa Securities, prior to the allotment and issuance of the Consideration Shares.
5. Siab to furnish Bursa Securities with a certified true copy of the resolutions passed by the shareholders in a general meeting approving the Proposed Acquisition, Proposed Special Issue, and the Proposed Rights Issue with Warrants.

The approval granted by Bursa Securities for the Proposed Special Issue and Proposed Rights Issue with Warrants is subject to the following conditions:

1. Siab and M&A Securities must fully comply with the relevant provisions under the ACE LR pertaining to the implementation of the Proposed Special Issue and Proposed Rights Issue with Warrants.
2. Siab and M&A Securities to inform Bursa Securities upon the completion of the Proposed Special Issue and Proposed Rights Issue with Warrants.
3. Siab to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposed Special Issue and Proposed Rights Issue with Warrants are completed.
4. Siab 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 27 October 2023.