Capital A corporate exercise ongoing despite setback


The company said that there was no change to the group’s strategy, and the only impact was a revision to the completion timeline.

KUALA LUMPUR: Capital A Bhd has clarified that Bursa Malaysia’s decision not to approve its application for a time extension to complete its share distribution has no material impact on the group’s ongoing corporate exercise.

In a statement yesterday, the airline company said that there was no change to the group’s strategy, and the only impact was a revision to the completion timeline.

The shares will be allotted and issued by AirAsia X Bhd (AAX) simultaneously with the placement shares issued in the AAX private placement.

“The distribution remains subject to the completion of the private placement by AAX.

“This is as the new AAX shares must be issued before they can be distributed to entitled Capital A shareholders.

“Following the approval granted by Bursa Securities to AAX for an extension to complete its private placement by Jan 19, 2026, Capital A’s timeline will align accordingly.

“Upon issuance, the new AAX shares will be allotted to Capital A shareholders as planned,” it said.

The filing said that Capital A had proceeded to announce the entitlement date, which is Dec 3, 2025, on the premise that there was sufficient time for the identified investors to provide the necessary documentation.

“At the time of the announcement of the entitlement date, there was no indication suggesting that the identified investors would be unable to meet the deadlines set by AAX.

“It was reasonable to expect that the AAX private placement would be completed within the approved timeframe, that is, by Dec 31, 2025, in line with AAX’s target completion date,” it said. — Bernama

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