KUALA LUMPUR (April 20): Tan Sri Chan Ah Chye now has 500 million more of Talam Transform Bhd shares in his direct holding, a transaction that is part of his supplemental agreement — to a share sale agreement dated Oct 17, 2014 — with Kumpulan Europlus Bhd that was signed on Aug 28 last year.

Talam Transform's bourse filing today showed that, as at Apr 18, Chan directly holds 607.71 million shares of the loss-making property developer, equivalent to a 14.41% stake, compared to 107.71 million shares or a 2.55% stake previously.

This brings Chan's indirect holding to 15.62%, including shares held by his wife Puan Sri Thong Nyok Choo, Kumpulan Europlus, and a few other companies.

Kumpulan Europlus now holds 492.84 million or 11.69% of Talam Transform shares, after the transaction.

Under the supplemental agreement, the tranche of shares was valued at 8.5 sen apiece, or 70% higher than today's closing of five sen.

There will be another tranche of 400 million Talam Transform shares scheduled to be sold to Chan, at 9.5 sen per share.