TOP GLOVE SHAREHOLDERS APPROVE 2-FOR-1 BONUS ISSUE AT COMPANY’S FULLY VIRTUAL EGM

Shah Alam, Tuesday, 18 August 2020 At Top Glove Corporation Bhd (Top Glove)’s fully virtual Extraordinary General Meeting (EGM) held today, shareholders voted to approve the 2-for-1 bonus share issue which the Company had proposed on 20 July 2020.

The said exercise will entail the issuance of up to 5.48 billion bonus shares in Top Glove on the basis of 2 bonus shares for every 1 existing Top Glove share held on the entitlement date of 4 September 2020, and is targeted to be completed by 7 September 2020.

The bonus issue aims to reward Top Glove shareholders and allow them to have greater participation in the equity of the group, in terms of the number of shares, while retaining their percentage of equity interest held. This also sets the stage for participation from a broader range of investors.

Tan Sri Dr Lim Wee Chai, Executive Chairman of Top Glove Corporation Bhd remarked, “We are pleased to offer this bonus issue to reward our shareholders for their loyalty and support. Since our IPO almost 20 years ago, we have paid out a total of RM1.84 billion in dividends, with an impressive total shareholder return of 40,332% or 403 times. We will continue to work hard to ensure that we add and create value for our shareholders and other stakeholders as well.”

This is the company’s 8th bonus issue, having completed 7 bonus issues and 1 share split since its listing on Bursa Malaysia in 2001 (then known as the Kuala Lumpur Stock Exchange). Without the aforementioned bonus issues and share split, the company’s share price as at 18 August 2020 would have been RM 1,063.

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About Top Glove Corporation Bhd

Top Glove Corporation Bhd is listed on the Bursa Malaysia Stock Exchange Main Board and Singapore Exchange Mainboard. It is also one of the component stocks of the MSCI Global Standard Index, FTSE Bursa Malaysia KLCI Index, FBM Top 100 Index, FBM Emas Index, FBM Hijrah Syariah Index, FBM Emas Syariah Index, FTSE4Good Bursa Malaysia Index and the Dow Jones Sustainability Indices (DJSI) for Emerging Markets. Top Glove is currently the world’s largest manufacturer of gloves 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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