We refer to the earlier announcements dated 17 October 2019 and 15 November 2019 in relation to the Proposals. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements.

On behalf of the Board, RHB Investment Bank wishes to announce that Bursa Securities had vide its letter dated 21 November 2019, approved the following:

(i)  listing and quotation of up to 188,881,350 new Shares to be issued pursuant to the Proposed Placement;

(ii) admission to the Official List of Bursa Securities and the listing and quotation of up to 566,644,050 Warrants to be issued pursuant to the Proposed Free Warrants Issue; and

(iii) listing and quotation of up to 566,644,050 new Shares to be issued arising from the exercise of the Warrants.

The approval by Bursa Securities for the above is subject to, among others, the following conditions:

(a) Avillion and RHB Investment Bank must fully comply with the relevant provisions under the Main Market Listing Requirements of Bursa Securities pertaining to the implementation of the Proposals;

(b) Avillion and RHB Investment Bank to inform Bursa Securities upon completion of the Proposals;

(c) Avillion 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

(d) Avillion 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 detail computation of listing fees payable.

This Announcement is dated 22 November 2019.