TA Corporation Ltd. Announces Key Updates on Issuance of Placement Shares and Trading Resumption
TA Corporation Ltd. has issued a comprehensive update regarding the issuance of Placement Shares and the resumption of trading of its securities on the Singapore Exchange. The announcement contains several important developments that investors and shareholders should closely monitor, as they may have a material impact on the company’s share value.
Key Highlights from the Announcement
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Resumption of Trading: Trading in TA Corporation’s securities will resume at 9:00 a.m. (Singapore time) on 26 February 2026. This follows a voluntary suspension enacted on 17 July 2023, marking a significant milestone for the company and its shareholders.
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Issuance of Placement Shares: The company is required to issue both TAR Conversion Shares and TAC Conversion Shares (“Placement Shares”) within 7 market days from the date of approval in-principle (AIP) by the Singapore Exchange Regulation (SGX RegCo), which is 27 February 2026. The TAR Conversion Shares will be issued by this deadline.
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Extension for TAC Conversion Shares: An extension has been granted by SGX RegCo for the issuance of TAC Conversion Shares up to 12 March 2026. The delay is attributed to the onboarding process required by Phillip Securities Pte Ltd, including the creation of the relevant sub-account for TAC. This extension ensures compliance and a smooth process for the share issuance.
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Share Issuance Details: The TAC Conversion Shares will be issued to Phillip Securities Pte Ltd once the onboarding is complete. The company will update shareholders when both TAR and TAC Conversion Shares are issued.
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Going Concern Confirmation: The Board maintains its opinion that the Group continues to operate as a going concern, reaffirming stability based on previously announced factors.
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SGX RegCo Approval: While SGX RegCo has granted approval for the listing and quotation of Placement Shares, this should not be construed as an endorsement of the merits of the Placement, the Placement Shares, the company, its subsidiaries, or its securities.
Implications for Shareholders and Potential Price Sensitivity
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Trading Resumption: The resumption of trading after a prolonged suspension is a significant event and may attract renewed investor interest and potentially impact share price volatility.
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Placement Shares Issuance: The issuance of new shares (TAR and TAC Conversion Shares) could alter the capital structure and may have dilution effects. Investors should monitor updates regarding the completion of the share issuance process.
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Extension for TAC Conversion Shares: Any delay or complication in the issuance process, particularly for the TAC Conversion Shares, could be price-sensitive. The company has received the necessary extension, mitigating immediate risks, but investors should stay vigilant for further updates.
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Regulatory Caution: The company and SGX RegCo have advised shareholders and stakeholders to exercise caution when dealing in TA Corporation’s shares or other securities, and to consult professional advisors if uncertain about investment actions.
Action Points for Investors
- Monitor the official issuance dates of TAR and TAC Conversion Shares.
- Be aware of potential share dilution and its impact on share value.
- Stay updated on any further announcements regarding the onboarding process and regulatory compliance.
- Exercise caution and seek professional advice if uncertain.
Disclaimer
This article is for informational purposes only and does not constitute financial advice, a recommendation, or an offer to buy or sell any securities. Investors are urged to conduct their own due diligence and consult with professional advisors before making any investment decisions related to TA Corporation Ltd.
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