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What should Investors of Supplementary Retirement Scheme (SRS) and CPF Investment Account (CPFIA) expect from a rights issue?
How will I get notified when there is a rights issue?
Shareholders who have purchased shares before ex-rights date under the CPF Investment Scheme (CPFIS) and Supplementary Retirement Scheme (SRS) will get to accept and subscribe to their allotted rights shares by completing an application form enclosed in a hard copy letter which will be mailed to the address registered with the bank. More details can be found in the letter.
When can I expect to receive the letter/application form?
You will receive the notification letter from the bank within 6 business days after the record date. You may check the record date and timetable of key events via the company’s circular/website or the SGX-ST’s website https://www.sgx.com.
What can I do with my rights share issue?
In response to a rights issue, shareholders can do one of the following:
- Exercise your rights by subscribing to a portion or all of the new shares at the specified issue price
- Sell your rights on the open market (not applicable to non-renounceable rights)
- Choose not to exercise your right to purchase additional shares and let the rights lapse
I have purchased shares using the funds in my SRS account. For rights issue, can I use cash to subscribe?
You will have to use the same fund source to apply for rights. This means that if your shares were purchased with SRS, you can only subscribe to a rights issue via your SRS funds.
What happens if I am currently living overseas?
Shareholders with registered addresses outside Singapore as at the record date will still receive a copy of the letter sent via ordinary mail. However, as rights events are time-sensitive, shareholders may contact DBS Customer Centre for further assistance.
What are the channels* for submitting my instructions?
Shareholders can submit their instruction via the following channels:
- Any DBS/POSB branch
- Fax / Mail-in
- Email scanned form to the email address stated in the letter
*Submission channels may vary with each corporate action event and is made available at the bank's discretion. Email channel may be employed for specific corporate action events. Please refer to the specific corporate action letter for details.
What do I need to check for before exercising my rights?
For SRS, please ensure your SRS account has sufficient cash balance (subject to SRS contribution limit).
Top up your SRS account via digibank/Branch.
For CPFIA, please ensure your account has sufficient stock limit and/or cash balance before submitting your instructions. This means that if your account has either zero or negative stock limit and/or balance of less than <$20k in your CPF Ordinary Account (OA) you, you will have to do a cash top up.
To check your stock limit, please login via digibank and view under My Accounts > View Transaction History > CPF Investment.
To check your OA balance, you can view your CPF statement by logging in to my cpf online services with your SingPass and selecting “My Statement”.
To top up* your CPFIA, please visit any DBS/POSB Branch.
Visit any of our branches
*Note: cash top-ups are not withdrawable or refundable, even if your applications are unsuccessful.
Can I do the cash top up after submitting my instructions?
No, you have to ensure your account is sufficiently funded/do a cash top up before submitting your instructions, otherwise your application will be appropriated in accordance to your available stock limit/cash balance and/or rejected.
How should I apply for excess Rights Shares, if applicable?
You will need to provide instructions in the same application form received and ensure your account has sufficient stock limit &/or funds before submitting your instructions.
I have submitted my application; how can I check if I subscribed successfully to the rights issue?
The expected date for the Rights Shares subscribed to be credited into your account is approximately one business day after the listing of the new rights shares*.
You may view your holdings via digibank/monthly account statement.
*Please note that the timeline above is indicative only and is subjected to change. For updates and announcements, please refer to the respective company’s website and SGX-ST’s website http://www.sgx.com.
When will the unsuccessful application monies be refunded?
The expected date for the refund monies to be credited into your account is approximately one business day after the listing of the new rights shares.
I have misplaced my notification letter, how do I get a new copy?
Visit any DBS/POSB Branch or contact DBS Customer Centre for further assistance.
I have already submitted my application; can I revoke the application?
No, your application is irrevocable.
What happens if I apply for more rights shares than the rights entitlement allocated to me?
Your instruction will be processed based on your rights entitlement allocated to you.
How many excess rights shares can I apply for, if applicable?
There is no limit on the number of excess rights that you can apply as long as you have the have sufficient stock limits and/or cash balances in your respective accounts for deduction of the application monies.
Can I transfer my rights entitlement?
No, your rights entitlement is non-transferrable.
What happens if I submit multiple instructions?
Shareholders should avoid submitting instructions more than once as it will be counted as a duplicate application and might be rejected.