Employee Stock Option/ Share Scheme::GRANT OF OPTIONS PURSUANT TO THE MCE SHARE OPTION SCHEME 2014

METAL COMPONENT ENGINEERING LIMITED

(Company Registration No. 198804700N)

GRANT OF OPTIONS PURSUANT TO THE MCE SHARE OPTION SCHEME 2014

Pursuant to Rule 704(32) of the Singapore Exchange Securities Trading Limited Lisitng Manual Section B: Rules of Catalist, the board of directors ("the Board" or the "Directors") of Metal Component Engineering Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce the following grant of share options ("Options") pursuant to the MCE Share Option Scheme 2014 to eligible employees and Directors of the Company:-

	Date of grant ("Offering Date"):	29 November 2021
	Exercise price of Options granted:	S$0.058 per share, being the average of the last
		dealt price for the Company's shares for the five
		(5) consecutive trading days immediately
		preceding the date of grant of the Options.
	Number of Options granted:	11,877,000
	Market price (closing price) of the Company's	S$0.054
	securities on the date of grant:
	Number of Options granted to each Director and	Options granted to Directors:
	controlling shareholders (and each of their
	associates), if any:	(a) Kelvin Lee Ming Hui (Independent Director) -
		1,000,000 Options
		(b) Cynthia Leow Siew Yon (Independent
		Director) - 1,000,000 Options
	Exercise period and vesting period of the Options	The exercise period shall commence after the
		first anniversary of the Offering Date and expire
		on the tenth anniversary of the Offering Date.
		For Options which are granted to a participant
		not holding a salaried office or employment in
		the Group, such exercise period shall expire on
		the fifth anniversary of the Offering Date.
		The vesting period of the Options is one year
		from the Offering Date.
	BY ORDER OF THE BOARD
	Lee Wei Hsiung
	Company Secretary
	29 November 2021

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. ("Sponsor"), in accordance Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd., at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone [phone].