News

Circular To Shareholders In Relation To The Following:- (i) Proposed Corporate Restructuring Comprising:- (A) Proposed Reduction Of 99.9% Of The Issued Share Capital Of Airasia X Berhad ("AAX" OR THE "COMPANY") Pursuant To Section 116 Of The Companies Act, 2016 ("PROPOSED SHARE CAPITAL REDUCTION"); And (B) Proposed Consolidation Of Every 10 Existing Ordinary Shares In AAX ("AAX SHARES" OR "SHARES") Into 1 AAX Share ("PROPOSED SHARE CONSOLIDATION"); (ii) Proposed Fundraising Comprising:- (A) Proposed Renounceable Rights Issue Of New AAX Shares To Raise Gross Proceeds Of Up To RM300.0 Million ("PROPOSED RIGHTS ISSUE"); And (B) Proposed Issuance And Allotment Of New AAX Shares To Raise Gross Proceeds Of Up To RM200.0 Million ("PROPOSED SHARE SUBSCRIPTION"); (iii) Proposed Granting Of The Subscription Option To The Spv. In Conjunction With The Proposed Debt Restructuring Pursuant To Section 366 Of The Companies Act, 2016