Ah Chye's purchase of 19.9% Talam stake held back for another four weeks

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KUALA LUMPUR (Sept 18): Tan Sri Chan Ah Chye and Kumpulan Europlus Bhd (KEuro) have agreed to extend the execution of a sale and purchase agreement in the relation to Chan's purchase of a 19.9% stake in Talam Transform Bhd from KEuro.

In a filing to Bursa Malaysia today, Talam said the signing of the agreement has been postoned by another four weeks to Oct 16, 2014. It didn't state the reason.

Chan had on Aug 21 entered into a memorandum of understanding (MoU) with Keuro to purchase the said 840 million shares at 11 sen per share, which works out to a total of RM92.4 million.

Chan is currently a director at Talam, and owns 8.68% of the property development outfit.