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SPEEDS

SPEEDS is an initiative introduced by Bursa Malaysia Depository to enhance the efficiency of some corporate exercises.

SPEEDS

Listed below are Issuers that have announced their books closing date for SPEEDS corporate exercise (as at 17/7/2018 )

Counter Type (Ratio) Announcement of
Books Closing Date (BCD)
Ex-Date BCD Listing
Borneo Aqua Harvest Berhad Bonus Issue
(1:1)
23/11/2018 6/12/2018 10/12/2018 11/12/2018
Borneo Aqua Harvest Berhad-WA Adjustment of Warrants
(1:1)
23/11/2018 6/12/2018 10/12/2018 11/12/2018
OKA Corporation Bhd Bonus Issue
(1:2)
26/11/2018 10/12/2018 12/12/2018 13/12/2018
Asia Brands Berhad Bonus Issue
(1:1)
28/11/2018 10/12/2018 12/12/2018 13/12/2018
Freight Management Holdings Berhad Bonus Issue
(1:2)
28/11/2018 10/12/2018 12/12/2018 13/12/2018
Globaltec Formation Berhad Share Consolidation
(1:20)
30/11/2018 12/12/2018 14/12/2018 17/12/2018
Ahmad Zaki Resources Berhad Bonus Issue
(1:8)
30/11/2018 12/12/2018 14/12/2018 17/12/2018
Ahmad Zaki Resources Berhad - WA Adjustment of Warrants
(1:8)
30/11/2018 12/12/2018 14/12/2018 17/12/2018
Minho (M) Berhad Bonus Issue
(11:20)
4/12/2018 14/12/2018 18/12/2018 19/12/2018
Minho (M) Berhad - WC Adjustment of Warrants
(11:20)
4/12/2018 14/12/2018 18/12/2018 19/12/2018
Cypark Resources Berhad Bonus Issue
(1:2)
30/11/2018 12/12/2018 14/12/2018 17/12/2018

In relation to the Share Consolidation by Globaltec Formation Berhad (GLOTEC) as a SPEEDS Corporate Exercise, Bursa Malaysia Depository Sdn Bhd will commence the crediting of the consolidated GLOTEC shares on the evening of the BCD which is 14/12/2018. GLOTEC shareholders may use the following basis to estimate the maximum number of GLOTEC shares that they may sell from Ex-date until BCD periods where the GLOTEC shares are traded under the newly adjusted units.

Counter Ex-date until BCD Basis to estimate maximum number of shares that shareholders may sell during the period from Ex-date until BCD Trading of shares after BCD
Globaltec Formation Berhad 12/12/2018 – 14/12/2018 Number of shares held / 20 (all fractional shares computed should be disregarded). Based on the number of shareholdings in their account(s) from 14/12/2018 onwards.

* Investors are advised to check the announcements made by the Issuer in relation to the above SPEEDS corporate exercise.


What is SPEEDS?

SPEEDS is an initiative introduced by by Bursa Malaysia Depository Sdn Bhd to enhance the efficiency of some corporate exercises. SPEEDS initiative will enable the Issuer to have a shorter timeline for selected corporate exercises namely:

  1. Sub-division/Shares SplitShares Consolidation
  2. Bonus Issues
  3. Capital Restructuring
  4. Processing of Provisional Letter of Allotment / Provisional Letter of Offer (Provisional Allotment of Rights)

The above corporate exercise must be on a stand-alone basis or inter-conditional between the above corporate exercises.

Under SPEEDS, the listed issuer, shareholders and investors will enjoy the following benefits:

  1. Provides greater efficiency with the capability to shorten the corporate exercise timelines and to have the listing date based on Book Closing Date (BCD) + 1.
  2. Provides greater efficiency with the capability to shorten the rights issue timelines and to enable the trading of Rights based on Book Closing Date (BCD) + 1.
  3. Provides certainty to the market whereby shareholders or investors know for certain the listing of the securities on the Stock Exchange
  4. Reduces risks associated with the suspension of shares that are undergoing corporate exercises.
  5. Encompasses best market practices that bring us on par with other jurisdictions.

SPEEDS Activity Timeline
52.8 KB (PDF)

Rights Issue Timeline under SPEEDS
33.5 KB (PDF)