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The Board of Directors of the Company wishes to announce that the Company will seek the approval of its shareholders for the following proposals at the forthcoming extraordinary general meeting to be convened:-
1. Proposed Increase in Authorised Share Capital (“Proposed Increase”); and
2. Proposed Amendments to the Memorandum and Articles of Association (“Proposed Amendments”).
The Proposed Increase is to enable Talam to increase its authorised share capital and to accommodate the increase in the number of new shares to be issued pursuant to the Proposed Regularisation Plan and any future issuance of new shares.
The Proposed Amendments is to facilitate the issuance of the zero dividend 5-year redeemable convertible preference shares (“RCPS”) pursuant to the proposed issuance of RM257,402,000 nominal value of RCPS at RM0.20 each and to effect the proposed share split involving the subdivision of every 1 ordinary share of RM0.60 each in Talam after the proposed reduction in the share capital of the Company by the cancellation of RM0.40 of the par value of each existing issued and fully paid-up ordinary share of RM1.00 each in Talam.
A circular containing the details of the Proposed Increase and Proposed Amendments will be despatched to the shareholders in due course.
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