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BackAug 09, 2011
Type Announcement
Subject OTHERS
Description AIRASIA BERHAD (“AIRASIA” OR “COMPANY”)

PROPOSED WARRANTS EXCHANGE EXERCISE WITH MALAYSIAN AIRLINE SYSTEM BERHAD (“MAS”)

AirAsia had on 9 August 2011 entered into a collaboration agreement with MAS and AirAsia X Sdn Bhd (“Collaboration Agreement”).

On behalf of the Board of Directors of AirAsia (“Board”), CIMB Investment Bank Berhad (“CIMB”) wishes to announce that the Company is proposing to enter into a warrants exchange exercise with MAS (“Proposed Warrants Exchange”).

The Proposed Warrants Exchange involves AirAsia issuing free warrants (“AirAsia Warrants”) to MAS’s ordinary shareholders and in exchange, MAS will be issuing free warrants (“MAS Warrants”) to AirAsia ordinary shareholders.

In accordance with the Proposed Warrants Exchange, AirAsia and MAS will enter into a formal warrants exchange agreement in due course.

To strengthen the collaboration and to further align their respective interests in AirAsia and MAS, Tune Air Sdn Bhd (“Tune Air”) and Khazanah Nasional Berhad (“Khazanah”), the major shareholders of AirAsia and MAS respectively, have on 9 August 2011 agreed to acquire from each other existing shares of both companies (“Share Swap”). As a result, Tune Air will hold 685,142,000 ordinary shares of RM1.00 each in MAS representing 20.50% equity interest in MAS. Khazanah will hold 277,650,600 ordinary shares of RM0.10 each in AirAsia representing 10.00% equity interest in AirAsia.

Please refer to the attachment for further details.

 

 


Announcement Info

Company Name AIRASIA BERHAD  
Stock Name AIRASIA    
Date Announced 9 Aug 2011  
Category General Announcement
Reference No MM-110809-68661

Attachments

  1. AIRASIA.pdf (Size: 128,600 bytes)