Reference is made to the Company’s announcements dated 5 August 2024, 16 August 2024, 2 September 2024, 4 September 2024 and 10 September 2024 (“Announcements”) in relation to the Proposed Disposal.

On behalf of the Board of Directors of Talam (“Board”), M & A Securities Sdn Bhd (“M&A Securities”) wishes to announce that the Company intends to undertake the following proposals:

(i) proposed consolidation of every five (5) existing ordinary shares in Talam (“Talam Share(s)” or “Share(s)”) held by the shareholders of Talam on an entitlement date to be determined and announced later, into one (1) Talam Share (“Proposed Share Consolidation”);
(ii) proposed private placement of up to 20% of the total number of issued ordinary shares in Talam (excluding treasury shares, if any), at any point in time, at an issue price to be determined and fixed at a later date (“Proposed Private Placement”) and to be undertaken after the completion of the Proposed Share Consolidation;
(iii) proposed reduction of the issued share capital of Talam pursuant to Section 116 of the Companies Act 2016 (“Proposed Share Capital Reduction”); and
(iv) proposed establishment of an employees’ share option scheme (“ESOS”) involving up to 15% of the total number of issued Shares of Talam (excluding treasury shares, if any) at any point in time during the duration of the ESOS for eligible employees and directors of Talam and its subsidiaries (“Proposed ESOS”).

Further details of the Proposals are set out in the attachment.

This announcement is dated 27 September 2024.