News
Type | Announcement | ||||||
Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
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Description | AIRASIA X BERHAD (“AAX” OR THE “COMPANY”) (I) PROPOSED ISSUANCE OF FREE WARRANTS; (II) PROPOSED PRIVATE PLACEMENT; (III) PROPOSED AAAGL ACQUISITION; (IV) PROPOSED AAB ACQUISITION; AND (V) PROPOSED SHARE CAPITAL REDUCTION (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) (VI) PROPOSED GRANTING OF SUBSCRIPTION OPTIONS |
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(For consistency, the abbreviations used throughout this announcement shall have the same meanings as defined in the announcements dated 25 April 2024, 26 July 2024, 4 September 2024 and 24 September 2024 in relation to the Proposals and Proposed Granting of Subscription Options, where applicable, unless stated otherwise or defined herein.)
Reference is made to the Company’s announcements dated 25 April 2024, 26 July 2024, 1 August 2024, 4 September 2024, 12 September 2024, 24 September 2024, 16 October 2024 and 24 October 2024 in relation to the Proposals and Proposed Granting of Subscription Options.
On behalf of the Board, Interpac wishes to announce that the Company and the Vendor had on 24 January 2025 agreed to extend the period for the satisfaction or fulfilment of the relevant conditions precedent under the SSPAs which remain unsatisfied up to 24 March 2025. This is to allow more time for the Company and the Vendor to, amongst others, obtain the approvals and consents of the relevant authorities, financiers / lenders and/or third parties as well as the sanction of the High Court for the capital reduction pursuant to the Proposed Distribution by Capital A and for the Company to finalise the definitive terms with the identified investors in relation to the Proposed Private Placement.
In addition, the Company and the Vendor have agreed to amend and vary the salient terms of the SSPAs, in particular the AAAGL Conditions Precedent and the AAB Conditions Precedent in relation to the Proposed Private Placement, as follows:
Save for the variations as set out in this announcement, all the other terms and provisions of the SSPAs shall remain in full force and continue to take effect and be binding on the parties.
This announcement is dated 24 January 2025. |
Announcement Info
Company Name | AIRASIA X BERHAD |
Stock Name | AAX |
Date Announced | 24 Jan 2025 |
Category | General Announcement for PLC |
Reference Number | GA1-24012025-00074 |