On behalf of the Board of Directors of INIX (“Board”), TA Securities Holdings Berhad (“TA Securities”) wishes to announce that the Company proposes to undertake the following:

(i) proposed settlement of an amount owing by INIX Glove Manufacturing Sdn. Bhd. (a wholly-owned subsidiary of the Company) (“IGM”) to its creditor namely, Southborn Capital Sdn. Bhd. (“SCSB”), via issuance of new ordinary shares in INIX (“INIX Shares”) (“Settlement Shares”) at an issue price of RM0.0750 each (“Proposed Debt Settlement”);

(ii) proposed private placement of up to 186,619,200 new INIX Shares (“Placement Shares”), representing up to 30% of the number of INIX Shares in issue (excluding treasury shares, if any) (“Proposed 30% Private Placement”);

(iii) proposed renounceable rights issue of up to 1,617,366,440 new INIX Shares (“Rights Shares”) on the basis of 2 Rights Shares for every 1 existing INIX Share held on an entitlement date to be determined later, together with up to 1,078,244,293 free detachable warrants ("Warrants") on the basis of 2 Warrants for every 3 Rights Shares subscribed for (“Proposed Rights Issue”);

(iv) proposed reduction of the issued share capital of the Company by RM40.00 million pursuant to Section 116 of the Companies Act 2016 (“Act”) (“Proposed Share Capital Reduction”); and

(v) proposed establishment of a new employees share option scheme (“ESOS”) of up to 30% of the issued share capital of the Company (excluding treasury shares, if any) at any one time during the duration of ESOS for the eligible Directors and employees of the Company and its subsidiaries (“Group”) (excluding dormant subsidiaries, if any) (“Proposed ESOS”).

Please refer to the attachment below for further details of the Proposals.

This announcement is dated 28 January 2022.