SPEEDS

Listed below are Issuers that have announced their books closing date for SPEEDS corporate exercise (as at 25/2/2020)

Counter Type (Ratio) Announcement of
Books Closing Date (BCD)
Ex-Date BCD Listing
Kejuruteraan Asastera Berhad Subdivision of share (5:2) 11/2/2020 25/2/2020 26/2/2020 27/2/2020
Nova MSC Berhad Rights Issue (8:3) 12/2/2020 25/2/2020 26/2/2020 27/2/2020
(Trading of Rights)
Scomi Energy Services Bhd Share Consolidation (1:5) 14/2/2020 27/2/2020 28/2/2020 2/3/2020
PUC Berhad Share Consolidation (1:5) 20/2/2020 5/3/2020 6/3/2020 9/3/2020
PUC Berhad-WA Adjustment warrants (1:5) 20/2/2020 5/3/2020 6/3/2020 9/3/2020

In relation to the Share Consolidation by Scomi Energy Services Bhd (SCOMIES) as a SPEEDS Corporate Exercise, Bursa Malaysia Depository Sdn Bhd will commence the crediting of the consolidated SCOMIES shares on the evening of the BCD which is 28/2/2020. SCOMIES shareholders may use the following basis to estimate the maximum number of SCOMIES shares that they may sell from Ex-date until BCD periods where the SCOMIES 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
Scomi Energy Services Bhd 27/2/2020 – 28/2/2020 Number of shares held X 0.20 (all fractional shares computed should be disregarded). Based on the number of shareholdings in their account(s) from 28/2/2020 onwards.

In relation to the Share Consolidation exercise by PUC Berhad (“PUC”) as a SPEEDS Corporate Exercise, Bursa Malaysia Depository Sdn Bhd will commence the crediting of the consolidated PUC shares on the evening of the BCD which is 6/3/2020. PUC shareholders may use the following basis to estimate the maximum number of PUC shares that they may sell from Ex-date until BCD periods where the PUC shares are traded under the newly adjusted units. The following are also applicable to the warrants holders:

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
PUC Berhad 5/3/2020 – 6/3/2020 Number of shares held X 0.20 (all fractional shares computed should be disregarded). Based on the number of shareholdings in their account(s) from 6/3/2020 onwards.
PUC Berhad-WA 5/3/2020 – 6/3/2020 Number of shares held X 0.20 (all fractional shares computed should be disregarded). Based on the number of shareholdings in their account(s) from 6/3/2020 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

Rights Issue Timeline under SPEEDS