GUOCO GROUP (00053) has announced an update regarding the proposed privatization of GLM through a selective capital reduction and repayment under Section 116 of the Malaysian Companies Act 2016. At the extraordinary general meeting of GLM held on May 29, 2026, the special resolution concerning the privatization proposal was formally passed by GLM's disinterested shareholders. Following the approval at the EGM, the privatization remains subject to the fulfillment of other conditions. These include, but are not limited to, obtaining an order from the High Court of Malaya to confirm the reduction of GLM's issued share capital, and the subsequent lodgment of this court order with the Companies Commission of Malaysia. Assuming these conditions are met and based on the indicative timetable, the privatization is expected to be completed in the first quarter of the 2026/27 fiscal year.