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MULTIPLE PROPOSALS AIRASIA X BERHAD ("AAX" OR THE "COMPANY") - PROPOSED DEBT RESTRUCTURING - PROPOSALS COMPRISING:- (I) PROPOSED CORPORATE RESTRUCTURING (II) PROPOSED FUNDRAISING

AIRASIA X BERHAD

Type Announcement
Subject MULTIPLE PROPOSALS
Description
AIRASIA X BERHAD ("AAX" OR THE "COMPANY")

-	PROPOSED DEBT RESTRUCTURING
- 	PROPOSALS COMPRISING:-
(I)	PROPOSED CORPORATE RESTRUCTURING
(II)	PROPOSED FUNDRAISING

(For consistency, the abbreviations used throughout this announcement shall have the same meaning as defined in the announcements dated 6 October 2020 and 14 December 2020 in relation to the Proposals and Proposed Debt Restructuring, where applicable, unless stated otherwise or defined herein.)

 

Reference is made to the announcements dated 6 October 2020, 7 October 2020, 9 October 2020, 4 November 2020, 5 November 2020, 19 November 2020, 14 December 2020, 5 January 2021, 29 January 2021, 22 February 2021, 8 March 2021 and 17 March 2021 in relation to the Proposals and Proposed Debt Restructuring.

 

On behalf of the Board, Mercury Securities Sdn Bhd wishes to announce the following:-

 

1.         The Rights Issue Price shall be determined by the Board at a price-fixing date to be determined later after obtaining all relevant approvals for the Proposed Rights Issue but before the announcement of the entitlement date for the Proposed Rights Issue. The Board intends to fix the Rights Issue Price at an indicative discount of between 30% and 55% to the TEAP of AAX Shares after taking into consideration the need to price the Rights Shares at an issue price deemed sufficiently attractive to encourage subscription of the Rights Shares.

 

2.         Reference is made to the announcement dated 14 December 2020 in relation to the Proposed Fundraising, whereby the issue price of the Additional Subscription Shares shall be fixed at the same price as the Rights Issue Price.

 

After further deliberation, the issue price of the Additional Subscription Shares will be revised to be based on the higher of (a) Rights Issue Price or (b) 25% of the 5-day volume weighted average market price of AAX Shares up to and including the date immediately preceding any exercise of the Subscription Option, subject to adjustment if any alteration is made to the share capital at any time during the subscription period for the Additional Subscription Shares such as by way of rights issue, bonus issue, consolidation of shares, subdivision of shares, reduction of capital or capital distribution.

 

 

This announcement is dated 23 April 2021.






Announcement Info

Company Name AIRASIA X BERHAD
Stock Name AAX
Date Announced 23 Apr 2021
Category General Announcement for PLC
Reference Number GA1-23042021-00085




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