KUALA LUMPUR: Capital A Bhd
will distribute 1.69 billion new shares in AirAsia X Bhd (AAX) to its eligible shareholders via a dividend-in-specie, marking the final stage of its restructuring plan.
In a statement, the group said the move forms part of the final phase in the disposal of its airline business to AAX, consolidating all AirAsia-branded airlines under a single entity and paving the way for Capital A’s transformation into a multi-platform travel and digital group.
The entitlement date for the distribution is Dec 3, at 5pm, with the distribution ratio estimated at approximately 389 AAX shares for every 1,000 Capital A shares held.
“Capital A shareholders whose names appear in the record of depositors at 5pm on the entitlement date will be entitled to receive the distribution shares and will not be required to pay for them,” it said.
The group added the actual number of shares to be received will be calculated based on a formula relating to the number of Capital A shares held on the entitlement date.
Capital A said the exercise represents a major milestone in its regularisation, which also includes a proposed capital reduction to offset accumulated losses. — Bernama
