Talam Transform shareholders reject all 14 resolutions to block board changes

PETALING JAYA (July 11): Talam Transform Bhd’s shareholders have rejected all 14 ordinary resolutions tabled at an extraordinary general meeting (EGM) held at Kuala Lumpur Golf & Country Club yesterday, blocking all proposed board changes.

The investment holding and property development company said in a Bursa Malaysia filing on the same day that the resolutions were voted on by poll and validated by Sharepoll Sdn Bhd, the scrutineer appointed by M & A Nominee (Tempatan) Sdn Bhd as registered holder of shares beneficially owned by Ang Lam Poah, Loo Leong Fatt and Loo Foong Luan, who claim to hold not less than 10% of the company’s paid-up share capital under Section 310(b) of the Companies Act 2016.

The poll results were also validated by Aldpro Corporate Services Sdn Bhd, the representative appointed by Talam Transform’s board.

Ordinary resolutions 1 to 9 sought to remove seven named directors, one alternate director and any persons appointed by the board to fill casual vacancies between the date of the EGM notice and the EGM, with immediate effect.

Resolutions 10 to 14 proposed the immediate appointment of Lim Gin Gee, Chen Cheong Fat, Chee Seong Heng, Lee Bang Haur and William Ang Wei Liang as directors of the company. Each resolution was rejected by about 67.5% of voted shares, with roughly 32.5% voting in favour.

For the resolutions seeking the removal of directors, votes against ranged from about 487.61 million to 487.68 million shares, compared with approximately 234.53 million to 234.59 million shares in favour.

The proposed appointments of Lim Gin Gee, Chen Cheong Fat, Chee Seong Heng, Lee Bang Haur and William Ang Wei Liang were also rejected, with all proposed removals and appointments failing to secure shareholder approval.

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