We refer to the announcements dated 21 May 2014, 17 June 2014, 19 January 2015, 12 February 2015, 28 September 2015, 17 November 2015, 16 February 2016, 26 May 2016, 9 January 2017, 13 November 2017, 2 November 2018 and 1 November 2019 in relation to the Acquisition (“Announcements”).Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said Announcements in relation to the Acquisition.

Further to the announcement dated 1 November 2019, on behalf of the Board, TA Securities wishes to announce that CMD and the Vendor had via the letter dated 21 October 2020 mutually agreed to a further extension of time to 4 November 2021 for the Vendor to procure and obtain the Development Approvals in respect of the Land.

Notwithstanding the above, the status of the Development Approvals as at 2 November 2020 is as follows:

(i) The application for the Development Approvals is pending approval from Jabatan Perancang Bandar dan Desa Pulau Pinang; and

(ii) The Vendor is following up with the Jabatan Perancang Bandar dan Desa Pulau Pinang and the Penang Development Corporation to obtain the Development Approvals.

This announcement is dated 2 November 2020.