On behalf of the Board of Directors of XOX, Mercury Securities Sdn Bhd wishes to announce that the Company proposes to undertake a bonus issue of up to 1,336,281,385 free warrants in the Company (“Warrants C”) on the basis of 3 Warrants C for every 8 existing ordinary shares in the Company held by the entitled shareholders of the Company on an entitlement date to be determined and announced later ("Proposed Bonus Issue of Warrants").

Please refer to the attachment for further details on the Proposed Bonus Issue of Warrants.

This announcement is dated 9 October 2020.