Acquisition of Companies by Asia Aviation Capital Limited, an Indirect Wholly-Owned Subsidiary of Ai
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, AirAsia wishes to announce that Asia Aviation Capital Limited (“AACL”), an indirect wholly-owned subsidiary of the Company, had on 6 March 2019 acquired the entire issued and paid-up share capital of the following companies:
- Merah Aviation Asset Holding Two Limited;
- Merah Aviation Asset Holding Three Limited;
- Merah Aviation Asset Holding Four Limited; and
- Merah Aviation Asset Holding Five Limited,
(collectively, “Merah Aviation”) (the “Acquisitions”).
Merah Aviation were newly incorporated as companies under the laws of Ireland on 6 March 2019 for the purposes of owning, leasing and/or financing of aircraft. Each of Merah Aviation has an issued and paid-up share capital of USD1.00 (or equivalent to RM4.0895*) comprising one (1) ordinary share and AACL has acquired the entire issued and paid up share capital in cash.
The Acquisitions will not have an effect on the issued and paid-up share capital or substantial shareholders’ shareholding of the Company. The Acquisitions are also not expected to have any material effect on the earnings per share, net assets per share as well as the gearing of the Company for the financial year ending 31 December 2019.
The Acquisitions are not subject to the approval of the shareholders of the Company or any other regulatory authorities. None of the Directors, major shareholders and/or persons connected with them have any interest, direct or indirect in the Acquisitions.
* Based on the exchange rate of USD1.00:RM4.0895 which is the middle rate quoted by Bank Negara Malaysia as at 5.00 p.m. on 6 March 2019.