TOP GLOVE’S SHAREHOLDERS APPROVAL OF PROPOSED AMENDMENTS DURING EGM PAVES THE WAY FOR TOP GLOVE’S SGX LISTING

Shah Alam, Friday, 24 June 2016 – At the Extraordinary General Meeting (EGM) of Top Glove Corporation Bhd (“Top Glove” or “the Group” or “the Company”) held today, shareholders adopted the proposed amendments to its Articles of Association, paving the way for the Company’s secondary listing on the Singapore Exchange Securities Trading Limited (SGX-ST) on 28 June 2016. 

The objective for the company’s listing on the SGX is to add and create value for Top Glove’s shareholders and stakeholders.

The proposed amendments were required in order for the Company to undertake its proposed secondary listing on SGX. The said amendments allowed shares to be deposited with the Central Depository (Pte) Limited (CDP) or its exempt authorised nominee, as well as the transfer of shares listed and quoted on the SGX-ST and held by CDP’s exempt authorised nominee to be in accordance with the rules and regulations of the SGX-ST.

In addition, the proposed amendments also allowed the Company to align its Articles of Association to the amendments made to the listing requirements.

The amendments do not have any effect on the issued and paid-up share capital, shareholdings of its substantial shareholders as well as the net assets, gearing, earnings and earnings per share of the Group.

Said Top Glove’s Executive Chairman, Tan Sri Dr Lim Wee Chai, “We are always looking for ways to enhance shareholder value, one of which is through our secondary listing on SGX. We believe our shareholders also see the value in this exercise which has resulted in the swift approval of the proposed amendments to our Articles of Association.”

Top Glove's proposed secondary listing on the Main Board of the SGX-ST is expected to enhance the Company’s investor reach and diversify its investor base, enabling the Company to tap on a new platform for potential future fundraising. It also serves to enhance the visibility of the Company’s profile among international investors, analysts and media. More details are available in the announcement which has been posted at http://www.bursamalaysia.com/market/listedcompanies/company-announcements/5029521.  

“We are looking forward to our listing on SGX. Aside from giving us access to the Singapore market, it is also an opportunity for us to upgrade our quality image and branding. We also believe that Singapore - with its supportive, strong and efficient legal and regulatory infrastructure - will be an excellent platform for Top Glove to be associated with”, Tan Sri Dr Lim concluded.

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About Top Glove Corporation Bhd.

Top Glove Corporation Bhd. is listed on the Bursa Malaysia Stock Exchange Main Board and is one of the component stocks of the FTSE Bursa Malaysia (“FBM”) Mid 70 Index, FBM Top 100 Index, FBM Emas Index, FBM Emas Syariah Index, FTSE Bursa Malaysia Hijrah Shariah Index and FTSE4Good Bursa Malaysia Index. Top Glove is currently the world’s largest rubber glove manufacturer with an established corporate culture and good business direction of producing consistently high quality, cost efficient gloves. Top Glove has over 2,000 customers worldwide and exports to more than 195 countries.

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