Unless otherwise stated or redefined, all abbreviations and definitions used herein shall have the same meanings as those used in the Company’s announcements in relation to the Proposals (“Announcements”)

On behalf of the Board, M&A Securities is pleased to announce that Bursa Securities had vide its letter dated 14 December 2023 resolved to approved the following: 

(i) Listing and quotation of 2,487,830,882 new TXB shares to be issued pursuant to the Proposed Debt Settlement;

(ii) Proposed Share Consolidation;

(iii) Listing and quotation of up to 251,587,641 Rights Shares to be issued pursuant to the Proposed Rights Issue with Warrants;

(iv) Admission to the Official List and listing and quotation of up to 251,587,641 Warrants to be issued pursuant to the Proposed Rights Issue with Warrants; and

(v) Listing and quotation of up to 251,587,641 new TXB shares to be issued arising from the exercise of the Warrants. 

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

(i) TXB and M&A Securities must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

(ii) TXB must comply with the public security holding spread requirements pursuant to paragraph 8.02(1) of the Listing Requirements upon the listing and quotation of the new TXB shares;

(iii) TXB is required to furnish Bursa Securities with a certified true copy of the resolutions passed by its shareholders at a general meeting for the Proposals;

(iv) TXB and M&A Securities are required to inform Bursa Securities upon completion of the Proposals;

(v) TXB and M&A Securities are required to provide a written confirmation that the terms of the Warrants are in compliance with paragraph 6.54(3) of the Listing Requirements; 

(vi) In respect of the Proposed Share Consolidation, TXB / M&A Securities are required to make the relevant announcements pursuant to paragraphs 6.56(2)(ii) and (iii) and paragraph 13.20(2) of the Listing Requirements;

(vii) TXB is required to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities' approval once the Proposals are completed; and

(viii) TXB is required 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 14 December 2023.