AIRASIA X BERHAD ("AAX" OR THE "COMPANY")
(I) PROPOSED FUNDRAISING; AND
(II) PROPOSED GRANTING OF THE SUBSCRIPTION OPTION FOR THE SPECIAL PURPOSE VEHICLE TO SUBSCRIBE FOR SUCH NUMBER OF NEW AAX SHARES REPRESENTING UP TO 15% OF THE ENLARGED TOTAL NUMBER OF AAX SHARES (EXCLUDING TREASURY SHARES, IF ANY) AT ANY POINT OF TIME DURING THE SUBSCRIPTION OPTION PERIOD OF 36 MONTHS COMMENCING FROM THE COMPLETION OF THE PROPOSED RIGHTS ISSUE
(COLLECTIVELY, THE "REMAINING CORPORATE EXERCISES")
(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the circular to Shareholders dated 10 May 2021, where applicable, unless stated otherwise or defined herein.)
Reference is made to the earlier announcements in relation to the Remaining Corporate Exercises as well as the circular to Shareholders dated 10 May 2021.
On behalf of the Board, Mercury Securities wishes to announce that the extension of time granted by Bursa Securities to complete the implementation of the Remaining Corporate Exercises has lapsed today. Accordingly, the Remaining Corporate Exercises will not be implemented.
The Company is in the midst of formulating a comprehensive proposed regularisation plan to regularise its condition, and had on 12 October 2022, via AmInvestment Bank Berhad submitted an application to Bursa Securities for an extension of time of six (6) months up to 28 April 2023, for AAX to submit its regularisation plan to the Securities Commission or Bursa Securities.
This announcement is dated 26 October 2022.
|Company Name||AIRASIA X BERHAD|
|Date Announced||26 Oct 2022|
|Category||General Announcement for PLC|