News

Transactions (Chapter 10 Of Listing Requirements) : Recurrent Related Party Transactions

BackMar 07, 2022
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RECURRENT RELATED PARTY TRANSACTIONS
Description

VARIATION BETWEEN THE ACTUAL VALUE AND ESTIMATED VALUE BY 10% OR MORE OF THE RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE

The Board of Directors of AirAsia X Berhad (“AAX”) wishes to announce that the actual value of the Recurrent Related Party Transactions ("RRPT") transacted with the related party, namely Teleport Everywhere Pte. Ltd. (“Teleport Everywhere”), pursuant to the existing shareholders' mandate obtained at the 15th Annual General Meeting held on 7 December 2021 has exceeded the estimated value of RRPT as disclosed in the Circular to Shareholders dated 29 October 2021 (“Circular”) by more than 10%.

 

Further details are set out below:

 

Nature of RRPT

 

Estimated value as disclosed in the Circular

(“Estimated Value”)

Actual value transacted from 7 December 2021 to 28 February 2022

(“Actual Value”)

 

Variation between Actual Value and Estimated Value

Reason for the Variation

Provision of cargo transportation capacity by AAX to Teleport Everywhere

 

 

USD14,000,000

(RM58,660,000)

 

USD22,987,956

(RM96,319,535.64)

 

 

USD8,987,956

(RM37,659,535.64)

 

Due to a higher level of cargo activities

*the percentage of the variation between the Actual Value and Estimated Value is 64.2%.

**the exchange rate of USD1=RM4.19 has been used for the above currency translation.

 

This announcement is dated 7 March 2022.


Announcement Info

Company Name AIRASIA X BERHAD
Stock Name AAX
Date Announced 07 Mar 2022
Category General Announcement for PLC
Reference Number GA1-07032022-00077