We refer to the announcements dated 11 November 2016 and 30 November 2016 in relation to the Proposals (“Announcements”). Unless otherwise defined, the definitions set out in the Announcements shall apply herein.

On behalf of the Board, TA Securities wishes to announce that the Board, after further considering factors such as the Proposed Rights Issue of ICPS which has been announced but is pending implementation, has decided not to proceed with the Proposed Free Warrants Issue for the time being.

For the avoidance of doubt, TLB will proceed with the Proposed Share Split and Proposed Amendments. All the relevant sections in relation to the Proposed Free Warrants Issue in the announcement dated 11 November 2016 shall be disregarded.

This announcement is dated 23 December 2016.