News


Others

BackAug 29, 2017
Type Announcement
Subject OTHERS
Description

AIRASIA BERHAD ("AAB" OR THE "COMPANY") PROPOSED INTERNAL REORGANISATION BY WAY OF A MEMBERS SCHEME OF ARRANGEMENT UNDER SECTION 366 OF COMPANIES ACT, 2016

On behalf of the Board of Directors of AirAsia Berhad (“Board”), RHB Investment Bank Berhad (“RHB Investment Bank”) wishes to announce that the Company intends to implement a proposed internal reorganisation by way of a members’ scheme of arrangement under Section 366 of the Companies Act, 2016 (“Act”) (“Scheme”) comprising the following proposals:-

a) the proposed exchange of 3,341,974,080 ordinary shares in AAB (including treasury shares) as at 14 August 2017, being the latest practicable date prior to the date of this announcement (“LPD”)(“AAB Shares”), representing the entire issued share capital of AAB, with 3,341,974,080 new ordinary shares in AirAsia Group Berhad (“Newco”) (“Newco Share(s)”), a newly incorporated investment holding company, on the basis of 1 new Newco Share for every 1 existing AAB Share held on an entitlement date to be  determined (“Entitlement Date”)(“Proposed Share Exchange”); and

b) the proposed assumption of the listing status of AAB by Newco and the admission of Newco to and withdrawal of AAB from the Official List of Bursa Malaysia Securities Berhad (“Bursa Securities”), with the listing of and quotation for Newco Shares on the Main Market of Bursa Securities (“Proposed Transfer of Listing Status”).

The Proposed Share Exchange and Proposed Transfer of Listing Status are collectively referred to as the “Proposed Internal Reorganisation”.

 

Further details of the Proposed Internal Reorganisation is set out in the attachment below.

 

 

This announcement is dated 29 August 2017.

 


Announcement Info

Company Name AIRASIA BERHAD
Stock Name AIRASIA
Date Announced 29 Aug 2017
Category General Announcement for PLC
Reference Number GA1-29082017-00049

Attachments

  1. AirAsia_Bhd_-_Proposed_Internal_Reorganisation.pdf (Size: 309,455 bytes)