AAX seeking six-month extension

PETALING JAYA: AirAsia X Bhd (AAX) is seeking for an extension of six months up to April 28, 2023, to submit a fresh regularisation plan to the Securities Commission.

The carrier noted its existing remaining corporate exercise which had been proposed on May 10, 2021, was not completed within the time given.

The remaining proposed corporate exercise which includes a fundraising exercise as well as the proposal to grant subscription option to a special-purpose vehicle for such a number of new AAX shares, representing up to 15% of the enlarged total number of AAX shares, will not be implemented.