In compliance with Paragraph 3.2 of the Practice Note No. 17/2005 of the Listing Requirements of Bursa Malaysia Securities Berhad, Talam had on 2 May 2008 announced that the Proposed Revised Regularisation Plan which was submitted to the Securities Commission (“SC”) on 25 October 2007 has been approved by the SC vide SC’s letter dated 29 April 2008 (which was received on 30 April 2008) subject to terms and conditions imposed by the SC. Please refer to the detailed announcement made by RHB Investment Bank Berhad on 2 May 2008.
At the Extraordinary General Meeting of the Company held on 15 September 2008, the shareholders of the Company have approved the Proposed Revised Regularisation Plan. The Company has on 6 October 2008 submitted the petition for the proposed reduction of the share capital and share premium account of the Company to the High Court of Malaya (“court”) and was granted order by the court on 5 December 2008.
The Company has on 11 December 2008 submitted the application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for the following:-
(a) the admission of 1,287,010,000 Redeemable Convertible Preference Shares of RM0.20 each (“RCPS”) to the Official List of Bursa Securities and the listing of and quotation for the RCPS on the Main Board of Bursa Securities;
(b) the admission of 3 different classes of Redeemable Convertible Secured Loan Stocks (“RCSLS”), namely RCSLS-B, RCSLS-C and RCSLS-D of up to 89,622,905, 855,010,000 and 585,010,000 RCSLS of RM0.20 each respectively to the Official List of Bursa Securities and the listing of and quotation for the RCSLS on the Main Board of Bursa Securities; and
(c) the additional listing of and quotation for up to 3,068,292,905 new ordinary shares of RM0.20 each in Talam to be issued upon the conversion of the RCPS and the RCSLS-A, RCSLS-B, RCSLS-C and RCSLS-D on the Main Board of Bursa Securities.
The Company is currently awaiting the approval-in-principle from Bursa Securities for the above application.
This announcement is dated 2 January 2009.