Deep Dive: Top Glove Corporation Bhd’s Bonus Issue of Warrants Date of Report: January 16, 2025 Broker: Securities Services (Holdings) Sdn Bhd Overview of the Bonus Issue Top Glove Corporation Bhd, a leading player in the glove manufacturing industry, has announced a bonus issue of up to 405,846,911 warrants. This issuance is set on the basis of one warrant for every 20 existing ordinary shares held by shareholders as of 5:00 PM on February 4, 2025. The move is part of a strategic initiative to reward shareholders and enhance the liquidity of the company’s shares in the market. Key Dates and Timeline Ex-Date: February 3, 2025 Entitlement Date: February 4, 2025, at 5:00 PM Securities Crediting Date: February 4, 2025 Available/Listing Date: February 14, 2025 The entitlement refers to shareholders who hold their shares as of the record date. The transfer of securities into shareholders’ central depository system accounts will be completed before the close of business on February 4, 2025. Entitlement Details Shareholders will receive the warrants at a ratio of 1 warrant for every 20 existing ordinary shares they hold. Fractional entitlements, if any, will be disregarded. The warrants will be credited into the central depository system accounts of entitled shareholders, and notices of allotment will be dispatched to their registered addresses prior to the listing and quotation of the warrants. Listing and Quotation Insights The newly issued warrants will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad within two market days following the application submission. Additionally, the warrants will also be listed and quoted on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) subsequent to their listing on Bursa Malaysia. Registrar Details The issuance and management of the warrants will be handled by Securities Services (Holdings) Sdn Bhd. The registrar’s contact details are as follows: Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, Wilayah Persekutuan, Malaysia Tel: 03-2084 9000 Fax: 03-2094 9940 Investor Implications The bonus issue of warrants is a significant move by Top Glove Corporation Bhd to enhance shareholder value. By offering these warrants, the company provides an opportunity for shareholders to participate in its long-term growth potential. The listing on both Bursa Malaysia and SGX-ST ensures accessibility and liquidity for a wider pool of investors. It is important for current shareholders to take note of the key dates and ensure their holdings are in line with the entitlement requirements. The issuance of warrants comes with the potential for future gains, especially given Top Glove’s established presence in the industry and anticipated recovery of demand for its products. Conclusion This bonus issue of warrants underscores Top Glove Corporation Bhd’s commitment to rewarding its shareholders and enhancing market participation. Investors should consider this development as an opportunity to strengthen their portfolio with a company that has a proven track record of performance in the global healthcare and manufacturing sectors.
