KUALA LUMPUR, April 25 — Capital A Bhd has entered into a conditional share sale and purchase agreement with AirAsia Group Sdn Bhd (AAG) to dispose of its 100 per cent equity...
Kuala Kubu Baru by-election: DAP wants Meta to shut down its KKB candidate Pang Sock Tao’s fake Facebook account
“The AAAGL disposal consideration of RM3 billion will be satisfied entirely via the issuance of 2.30 billion new AAG shares at an issue price of RM1.30 for each consideration share,” the group said in a 68-page document filed with Bursa Malaysia today. “The proposed disposals are intended to be undertaken by Capital A to streamline the group’s core business activities to focus on aviation services and digital businesses which are essential and complementary to the passenger airlines business,” it said.
It also noted that Capital A is expected to record a gain on remeasurement of interest in AAAGL and gain on disposal of AAB and thereby is expected to improve the shareholders’ equity of the group in its effort to regularise its financial conditions. “The new aviation group will operate and provide a full spectrum of short, medium and long-haul low-cost air transportation services, with domestic flights and international flights from Malaysia, Thailand, the Philippines, Indonesia, and Cambodia to numerous destination countries,” it said.
Airasia Aviation Group Share Disposal Conditional Share Sale And Purchase Agreement Airasia Bhd
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