Reference is made to Dolphin’s announcements dated 11 January 2023, 9 February 2023, 10 April 2023, 26 May 2023, 7 June 2023, 12 July 2023, 20 July 2023, 28 July 2023, 31 July 2023, 23 August 2023 and 15 September 2023 in relation to the Proposals. 

Unless otherwise stated, all defined terms and abbreviations used in this announcement shall carry the same meaning as those previously defined in Dolphin’s circular to shareholders dated 31 July 2023 in relation to the Proposals.

On behalf of the Board, Mercury Securities wishes to announce that Dolphin had on 18 September 2023 entered into an underwriting agreement with the following parties for the Rights Issue:

(i) Mercury Securities, being the Managing Underwriter and a Joint Underwriter; and

(ii) Kenanga Investment Bank Berhad, being a Joint Underwriter.        

The Joint Underwriters will underwrite a total of 78,810,071 Rights Shares (“Underwritten Shares”), representing approximately 44.2% of the Rights Shares available for subscription assuming full subscription of the Rights Shares and no Warrants-B are exercised.

Further details of the underwriting agreement will be set out in the Abridged Prospectus to be issued by Dolphin in relation to the Rights Issue.

This announcement is dated 18 September 2023.