The Board of Directors of TALAM wishes to announce that its wholly-owned subsidiary, Expand Factor Sdn Bhd has on 28 January 2011 entered into a Shares Sale Agreement with Optimum Diversified Sdn Bhd (Company No. 743540-W) [“ODSB”] to dispose a total of 2,600,000 ordinary shares of RM1.00 each representing 100% equity interest in Lestari Puchong Sdn Bhd (“Lestari Puchong”) to ODSB for a total consideration of Ringgit Malaysia One Thousand (RM1,000.00) only (“Disposal”).
Lestari Puchong and its wholly-owned subsidiary, Bukit Beruntung Nurseries Sdn Bhd will cease to be subsidiaries of TALAM upon completion of the Disposal on 31 January 2011.
None of the Directors and/or the major shareholders of Company and/or persons connected with them have any interest, direct or indirect in the Disposal and no approval of shareholders is required.
This announcement is dated 28 January 2011.