18-Jan-2010 8:57 AM

AirAsia announces foreign ownership exceeds limits

AirAsia announced (15-Jan-2010) 50.36% of the issued and paid-up share capital of the carrier were held by foreigners as at 31-Dec-2009, thus exceeding the 45% limit of the carrier's total issued and paid-up share capital. Pursuant to the Securities Industry (Central Depositories) (Foreign Ownership) Regulations 1996, shares held by foreigners which are within the Prescribed Limit shall be entitled to all rights and entitlements attached to the shares. However, shares held by foreigners which have exceeded the limit shall also be entitled to all such rights and entitlements, except for the exercise of voting rights. [more]