(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 6 October 2020, 14 December 2020, 18 October 2021, 12 November 2021 and 16 December 2021, where applicable, unless stated otherwise or defined herein.)

We refer to the announcements dated 18 October 2021, 12 November 2021 and 16 December 2021 in relation to the Proposed Debt Restructuring involving the Scheme Creditors.

On behalf of the Board of Directors of AAX, Mercury Securities wishes to announce that an office copy of the Sanction Order has been duly lodged with the Registrar of Companies on 16 March 2022 in accordance with Section 366(5) of the Companies Act, 2016 and accordingly, the Proposed Debt Restructuring shall take effect on even date.

This announcement is dated 16 March 2022.