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New Issue Of Securities (Chapter 6 Of Listing Requirements) Fund Raising

BackJun 04, 2015
Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description
AIRASIA X BERHAD ("AAX" OR THE "COMPANY")

PROPOSED RIGHTS ISSUE WITH WARRANTS

RENOUNCEABLE RIGHTS ISSUE OF 1,777,777,790 NEW ORDINARY SHARES OF RM0.15 EACH IN AIRASIA X BERHAD (“AAX SHARES”) (“RIGHTS SHARES”) TOGETHER WITH 888,888,895 FREE DETACHABLE WARRANTS (“WARRANTS”), ON THE BASIS OF THREE (3) RIGHTS SHARES FOR EVERY FOUR (4) EXISTING AAX SHARES HELD AS AT 5.00 P.M. ON 15 MAY 2015 (“ENTITLEMENT DATE”) AND ONE (1) WARRANT FOR EVERY TWO (2) RIGHTS SHARES SUBSCRIBED FOR BY OUR ENTITLED SHAREHOLDERS AT AN ISSUE PRICE OF RM0.22 PER RIGHTS SHARE.

(Unless otherwise stated, the definitions used herein shall have the same meanings as set out in AAX’s announcement dated 30 January 2015 (“Announcement”))

We refer to the Announcement and the announcements dated 13 February 2015, 27 February 2015, 4 March 2015, 5 March 2015, 27 March 2015, 22 April 2015, 24 April 2015, 29 April 2015, 5 May 2015, 8 May 2015, 15 May 2015 and 27 May 2015.

On behalf of the Board, CIMB wishes to announce that pursuant to the close of acceptance, excess application and payment for the Rights Issue with Warrants at 5.00 p.m. on 1 June 2015 (“Closing Date”), AAX had received valid acceptances and excess applications for a total of 2,042,810,046 Rights Shares. This represents an over-subscription of 14.91% over the total number of Rights Shares available for subscription under the Rights Issue with Warrants.

Details of such valid acceptances and excess applications received are as follows:

 

No. of Rights Shares

 

% of total Rights Shares available for subscription

Total valid acceptances


1,719,917,512

 

96.75

Total valid excess applications

322,892,534

 

18.16

Total valid acceptances and excess applications


2,042,810,046

 

114.91

Total Rights Shares available for subscription


1,777,777,790

 

100.00

Over-subscription

265,032,256

 

14.91

Successful applicants of the Rights Shares will be given Warrants on the basis of one (1) Warrant for every two (2) Rights Shares successfully subscribed for. The Rights Shares which are not taken up or not validly taken up by our Entitled Shareholders and/or their renouncee(s) and/or transferee(s) (if applicable) by the Closing Date (“Excess Rights Shares”), will be allotted to applicants who have applied for the Excess Rights Shares in the priority set out in Section 10.6 of the Abridged Prospectus dated 15 May 2015 as follows:

(i)     firstly, to minimise the incidence of odd lots;

(ii)    secondly, for allocation to the Entitled Shareholders who have applied for the Excess Rights Shares on a pro-rata basis and in board lots, calculated based on their respective shareholdings in AAX as at the entitlement date;

(iii)   thirdly, for allocation to the Entitled Shareholders who have applied for the Excess Rights Shares on a pro-rata basis and in board lots, calculated based on the quantum of their respective Excess Rights Shares applied for; and

(iv)   lastly, for allocation to renouncee(s)/transferee(s) (if applicable) who have applied for the Excess Rights Shares on a pro-rata basis and in board lots, calculated based on their respective Excess Rights Shares applied for.

The Rights Shares and Warrants are expected to be listed on the Main Market of Bursa Securities on 11 June 2015.

This announcement is dated 4 June 2015.




Announcement Info

Company Name AIRASIA X BERHAD
Stock Name AAX
Date Announced 04 Jun 2015
Category General Announcement for PLC
Reference Number GA1-04062015-00008