SPEEDS
Listed below are Issuers that have announced their books closing date for SPEEDS corporate exercise (as at 24/04/2024).
|
Counter |
Type (Ratio) |
Announcement of Books Closing Date (BCD) |
Ex- Date |
BCD |
Listing |
|
Tower Real Estate Investment Trust |
Rights Issue (3:4) |
15/04/2024 |
29/04/2024 |
30/04/2024 |
02/05/2024 (Trading of Rights) |
|
Chin Hin Group Berhad |
Bonus Issue (1:1) |
18/04/2024 |
02/05/2024 |
03/05/2024 |
06/05/2024 |
|
Fintec Global Berhad |
Share Consolidation (1:30) |
22/04/2024 |
07/05/2024 |
08/05/2024 |
09/05/2024 |
|
Fintec Global Berhad - PA |
Adjustment (1:30) |
22/04/2024 |
07/05/2024 |
08/05/2024 |
09/05/2024 |
|
Bina Puri Holdings Bhd |
Share Consolidation (1:5) |
23/04/2024 |
08/05/2024 |
09/05/2024 |
10/05/2024 |
|
Bina Puri Holdings Bhd - WB |
Adjustment (1:5) |
23/04/2024 |
08/05/2024 |
09/05/2024 |
10/05/2024 |
In relation to the Share Consolidation by Fintec Global Berhad (“FINTEC”) as a SPEEDS Corporate Exercise, Bursa Malaysia Depository Sdn Bhd will commence the crediting of the consolidated FINTEC securities on the evening of the BCD which is 08/05/2024. FINTEC shareholders may use the following basis to estimate the maximum number of FINTEC securities that they may sell from Ex-date until BCD periods where the FINTEC securities are traded under the newly adjusted units.
|
Counter |
Ex date until BCD |
Basis to estimate maximum number of securities that shareholders may sell during the period from Ex date until BCD |
Trading of securites after BCD |
|
Fintec Global Berhad (Shares) |
07/05/2024 – 08/05/2024
|
Number of shares held / 30 (all fractional shares computed should be disregarded). |
Based on the number of shareholdings in their account(s) from 08/05/2024 onwards. |
|
Fintec Global Berhad – PA (ICPS) |
07/05/2024 – 08/05/2024
|
Number of ICPS held / 30 (all fractional shares computed should be disregarded). |
Based on the number of shareholdings in their account(s) from 08/05/2024 onwards. |
In relation to the Share Consolidation by Bina Puri Holdings Bhd (“BPURI”) as a SPEEDS Corporate Exercise, Bursa Malaysia Depository Sdn Bhd will commence the crediting of the consolidated BPURI securities on the evening of the BCD which is 09/05/2024. BPURI shareholders may use the following basis to estimate the maximum number of BPURI securities that they may sell from Ex-date until BCD periods where the BPURI securities are traded under the newly adjusted units.
|
Counter |
Ex date until BCD |
Basis to estimate maximum number of securities that shareholders may sell during the period from Ex date until BCD |
Trading of securites after BCD |
|
Bina Puri Holdings Bhd (Shares) |
08/05/2024 – 09/05/2024
|
Number of shares held / 5 (all fractional shares computed should be disregarded). |
Based on the number of shareholdings in their account(s) from 09/05/2024 onwards. |
|
Bina Puri Holdings Bhd – WB (Warrants) |
08/05/2024 – 09/05/2024
|
Number of warrants held / 5 (all fractional shares computed should be disregarded). |
Based on the number of shareholdings in their account(s) from 09/05/2024 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:
- Sub-division/Shares Split
- Shares Consolidation
- Bonus Issues
- Capital Restructuring
- Processing of Provisional Letter of Allotment / Provisional Letter of Offer (Provisional Allotment of Rights)
- 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:
- 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.
- 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.
- Provides certainty to the market whereby shareholders or investors know for certain the listing of the securities on the Stock Exchange.
- Reduces risks associated with the suspension of shares that are undergoing corporate exercises.
- Encompasses best market practices that bring us on par with other jurisdictions.
Rights Issue Timeline under SPEEDS