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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 26 May 2017)

Counter Type (Ratio) Announcement of
Books Closing Date (BCD)
Ex-Date BCD Listing
Tomypak Holdings Berhad Subdivision of Shares
(2:1)
18/05/2017 01/06/2017 05/06/2017 06/06/2017
Tomypak Holdings Berhad Bonus Issue
(1:4)
18/05/2017 01/06/2017 05/06/2017 06/06/2017
Tomypak Holdings Berhad-WA Adjustment of Warrants
(3:2)
18/05/2017 01/06/2017 05/06/2017 06/06/2017
Asia Bioenergy Technologies Berhad Share Consolidation
(3:1)
22/05/2017 01/06/2017 05/06/2017 06/06/2017
Asia Bioenergy Technologies Berhad-WA Share Consolidation
(3:1)
22/05/2017 01/06/2017 05/06/2017 06/06/2017
Superlon Holdings Berhad Subdivision of Shares
(2:1)
19/05/2017 05/06/2017 07/06/2017 08/06/2017
GD Express Carrier Berhad Bonus Issue
(3:1)
22/05/2017 07/06/2017 09/06/2017 13/06/2017
GD Express Carrier Berhad-WB Adjustment of Warrants
(3:1)
22/05/2017 07/06/2017 09/06/2017 13/06/2017

In relation to the Share Consolidation exercise by Asia Bioenergy Technologies Berhad (“ABT”) as a SPEEDS Corporate Exercise, Bursa Malaysia Depository Sdn Bhd will commence the crediting of the consolidated ABT shares on the evening of the BCD which is 05/06/2017. ABT shareholders may use the following basis to estimate the maximum number of ABT shares that they may sell from Ex-date until BCD periods where the ABT 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
Asia Bioenergy Technologies Berhad 01/06/2017 – 05/06/2017 Number of shares held divided by 3 (all fractional shares computed should be disregarded). Based on the number of shareholdings in their account(s) from 05/06/2017 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)