Improvement seen for Stock Split Implementation

Blogged previously: Genting Share Split Gets Highlighted!!

In today's Business Times, there was an article on Green Packet's upcoming stock split. Take note, Green Packet investors advised

• Take note, Green Packet investors advised
  By Chong Pooi Koon
  pooikoon@nstp.com.my
  
  July 7 2007
  
  SHAREHOLDERS of Green Packet Bhd who wish to sell their shares from July 13 onwards should take note: they will only have 75 per cent of the total number of shares held before as a result of two corporate exercises that the company recently proposed, which will go-ex on July 13.
  
  Under the plan is a bonus issue, which will give shareholders one new share for every two shares held.
  
  Subsequently, Green Packet has proposed to consolidate every two shares of 10 sen each, into one share of 20 sen par value.
  
  Following the two exercises, investors who initially held 100 shares of Green Packet at 10 sen par value would have 75 shares with a par value of 20 sen instead.
  
  "We hope investors will be aware so that they won't fall into a situation where they've sold more shares than they actually own," Cheah Sin Keat, the head of exchange, clearing, settlement and depository at Bursa Malaysia Bhd said in a media briefing in Kuala Lumpur yesterday.
  
  He said the Green Packet shares arising from the bonus issue and share consolidation will be credited in the evening of July 17, being the book closing date, or lodgement date.
  
  This will allow transactions in Green Packet shares entered into from July 13 (being the ex-date) onwards to be settled with the new consolidated shares with a par value of 20 sen each.
  
  Green Packet's bonus issue and shares consolidation will be implemented under a recently started facility by the stock exchange, which has substantially cut the time to market for certain simpler exercises.
  
  Dubbed SPEEDS, the initiative allows a company's shares to be continuously traded without having to be suspended to facilitate exercises like share split, share consolidation and bonus issues.
  
  Before SPEEDS was introduced, trading would typically be suspended for 10 days in the shares of company which has announced such plans.
  
  Genting Bhd's and Resorts World Bhd's share split in April this year were the first two cases that were implemented under SPEEDS.

Great to see an article telling investors what to expect.