SPEEDS

Listed below are Issuers that have announced their books closing date for SPEEDS corporate exercise (as at 11/01/2021)             

In relation to the Share Consolidation by Perak Transit Berhad (“PTRANS”) as a SPEEDS Corporate Exercise, Bursa Malaysia Depository Sdn Bhd will commence the crediting of the consolidated PTRANS shares on the evening of the BCD which is 15/01/2021. PTRANS shareholders may use the following basis to estimate the maximum number of PTRANS shares that they may sell from Ex-date until BCD periods where the PTRANS shares are traded under the newly adjusted units.

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 Split
2. Shares Consolidation
3. Bonus Issues
4. Capital Restructuring
5. Processing of Provisional Letter of Allotment / Provisional Letter of Offer (Provisional Allotment of Rights)
6. Adjustment Warrants

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

Rights Issue Timeline under SPEEDS