SPEEDS

Listed below are Issuers that have announced their books closing date for SPEEDS corporate exercise (as at 14/09/2021)            

Counter

Type (Ratio)

Announcement of Books Closing Date (BCD)

Ex- Date

BCD

Listing

My E.G. Services Berhad

Bonus Issue (1:1)

23/08/2021

13/09/2021

14/09/2021

15/09/2021

AME Elite Consortium Berhad

Bonus Issue (1:2)

06/09/2021

20/09/2021

21/09/2021

22/09/2021

Fajarbaru Builder Group Bhd

Rights Issue (1:1)

08/09/2021

22/09/2021

23/09/2021

24/09/2021

(Trading of Rights)

Minetech Resources Berhad

Rights Issue (1:2)

08/09/2021

22/09/2021

23/09/2021

24/09/2021

(Trading of Rights)

Malaysia Steel Works (KL) Bhd

Rights Issue (1:2)

13/09/2021

28/09/2021

29/09/2021

30/09/2021

(Trading of Rights)

PDZ Holdings Berhad

Rights Issue (6:1)

27/08/2021

30/09/2021

01/10/2021

04/10/2021

(Trading of Rights)

* 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 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