KLSE (MYR): AAX (5238)
You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!
Last Price
1.56
Today's Change
-0.01 (0.64%)
Day's Change
1.54 - 1.59
Trading Volume
1,206,900
Ann. Date | Name | Details of Changes | Securities After Changes | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Date | Type | No. of Shares | Price | Direct (%) | Indirect (%) | Total (%) |
Use of proceeds from the Proposed Private Placement
The gross proceeds of RM1,000.00 million to be raised from the Proposed Private
Placement are intended to be used in the following manner:-
Proposed use of proceeds
Indicative allocation
(RM’000)
Funding for aircraft, engines and other aircraft parts as well as associated pre-delivery payments
450,000 to 550,000
Pre-payment / Repayment of the AAB Group’s term loan facilities(1)
300,000
General working capital(2) 104,500 to 204,500
Notes:-
(1) As at 31 December 2023, the total consolidated borrowings and lease liabilities of AAX, AAAGL and AAB are RM1,512.03 million, RM8,566.00 million and RM15,895.24 million respectively. The proposed pre-payment / repayment of the AAB Group’s term loan facilities amounting to RM300.00 million is expected to result in pre-tax annual interest savings of RM35.25 million based on the
interest rate of 11.75% of the term loan facilities. The pre-payment / repayment of the AAB Group’s term loan facilities is expected to be completed within 6 months from the completion of the Proposed Private Placement.
(2) A portion of the gross proceeds from the Proposed Private Placement is intended to be earmarked for general working capital of the New Aviation Group’s aviation businesses. This includes expenses for expansion of new routes, marketing, advertising and promotional activities as well as system enhancements.
Notwithstanding the above, the allocation as disclosed above is indicative and based on the management’s best estimate only
3 weeks ago
How on earth will NewCo handle below borrowing and lease liabilities?
As at 31 December 2023, the total consolidated borrowings and lease liabilities of AAX, AAAGL and AAB are RM1,512.03 million, RM8,566.00 million and RM15,895.24 million respectively
3 weeks ago
Basis and justification for the issue price of the Placement Shares
The Placement Shares will be issued based on a discount of not more than 15% to the 5-day VWAP of the AAX Shares / NewCo Shares up to and including the last trading day prior to the price-fixing date of the Placement Shares, to be determined by the NewCo Board after taking into consideration the prevailing market conditions.
As the Proposed Private Placement may be implemented in 1 or multiple tranches, there could potentially be several price-fixing dates and issue prices.
For illustrative purposes, the issue price of the Placement Shares is assumed to be
RM1.11, which represents a discount of approximately 14.62% to the 5-day VWAP of
the AAX Shares up to and including the LPD of RM1.30 (Source: Bloomberg).
3 weeks ago
The sucker PP investors will get a discount of not more than 15% the 5-day VWAP of the AAX Shares / NewCo Shares up to and including the last trading day prior to the price-fixing date of the placement share.
Will the big shark placed a regulated short selling and earned the aprox 15% profit on the PP? Meanwhile suyiee sucker billis buying AAX/NewCo shares from open market.
3 weeks ago
Placement arrangement
The Placement Shares are intended to be placed to independent third party investor(s) to be identified later. Such investor(s) shall be party(ies) which qualify under Schedule 6 or Schedule 7 of the Capital Markets and Services Act, 2007. The Placement Shares are not intended to be placed to the following persons:-
(i) a director, major shareholder or chief executive of the listed issuer or a holding company of the listed issuer (“Interested Person”);
(ii) a person connected with an Interested Person; or
(iii) nominee corporations, unless the names of the ultimate beneficiaries are disclosed.
The Proposed Private Placement may be implemented in 1 or multiple tranches (as the investors may be identified and procured over a period of time rather than simultaneously) within a period of 6 months from the date of approval by Bursa Securities for the listing and quotation of the Placement Shares on the Main Market of Bursa Securities or any extended period as may be approved by Bursa Securities, subject to the prevailing market conditions
3 weeks ago
The Proposed AAAGL Acquisition entails the acquisition of the entire equity interest (including any forms of capital contribution and any unissued capital) in AAAGL (“AAAGL Equity Interest”) by the NewCo from Capital A for a purchase consideration of RM3,000.00 million to be satisfied entirely via the allotment and issuance of 2,307,692,307 new NewCo Shares at an issue price of RM1.30 in accordance with the terms of the AAAGL SSPA.
The actual number of Placement Shares to be issued will depend on the issue price of the Placement Shares to be determined later. For illustrative purposes, if the issue price of the Placement Shares is assumed to be RM1.11, which represents a discount of approximately 14.62% to the 5-day VWAP of the AAX Shares up to and including the LPD of RM1.30 (Source: Bloomberg), the Proposed Private Placement will entail the issuance of 900,900,900 Placement Shares.
The Proposed Private Placement is intended to be implemented after the Warrants Entitlement Date and closer to the implementation of the Proposed Acquisitions. Nonetheless, the Proposed Private Placement may still be implemented in the event that the Proposed Issuance of Free Warrants is not approved and hence, not implemented.
Is Bursa SC waive the limit of PP of not more than 10% NOSH?
3 weeks ago
One of the AAAGL and AAB Conditions Precedent:
The Purchaser raising RM1,000,000,000 within the financial year ending 31 December 2024, pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by the Purchaser and the identified investors in relation to the Proposed Private Placement.
3 weeks ago
Independent Adviser
As the Proposed Acquisitions are related party transactions pursuant to Paragraph 10.08 of the Listing Requirements, WYNCORP Advisory Sdn Bhd has been appointed to act as the Independent Adviser to undertake the following in relation to the Proposed
Acquisitions:-
(i) comment as to:-
(a) whether the Proposed Acquisitions are fair and reasonable in so far as the Shareholders are concerned; and
(b) whether the Proposed Acquisitions are to the detriment of the noninterested Shareholders, and such opinion must set out the reasons for, the key assumptions made and the factors taken into consideration in forming that opinion;
(ii) advise the non-interested Shareholders whether they should vote in favour of the Proposed Acquisitions; and (iii) take all reasonable steps to satisfy itself that it has a reasonable basis to make the comments and advice in relation to paragraphs (i) and (ii) above.
Just wonder why use the audited 31/12/2022 figures when another few more days the audited 31/12/2023 and external auditor opinion will be publised
Total borrowings and lease liabilities of AAX/Newco will be escalated to RM 23,271,794,000 a gearing of 23.96 times after the proposed AAAGL and AAB acquisitions.
What will advisor WYNCORP Advisory Sdn Bhd advise shareholder to vote in favor or against the proposed acquisitions?
Note: If AAX stay as it is now Maybank analyst TP of AAX is RM 3.40
3 weeks ago
yeehaa from below rm1.20 now above rm1.40..
tut tut
paktua set rm1.62 hope can..
3 weeks ago
The free float shares of AAX is very small. Hence shark should be able to goreng the price higher.
But make sure you are not the one holding the bag when music stop.
3 weeks ago
Paktua one of swing trader..
was sail on aax many time since 2014..
apa yang paktua salute TF ni..
dia genius dan licik..
bagi normal businessman..
ini adalah tindakan mustahil dan tak bijak..
tapi dari start aax ia bertitik dari mustahil n tak bijak..
tapi end up..
TF still success sail the aax thru all obstacles dan cabaran..
dengan gagah harungi inilah survival move yg diperlukan..
tut tut
with Spirit never giveup..
dare to fight or die try..
salute TF you're real fighter..
3 weeks ago
What is going to happen to IBs who blow up the shares price for the restructuring to certain level that nobody will to buy anymore?
3 weeks ago
If collapse at the melting points, IB being burnt...
Not sure restructuring still can proceed
3 weeks ago
Stony throw all the rule and regulation out of window on new issue.
PP number of shares not more than 10% of NOSH
PP discount not more than 10% of the 5-day VWAP
Number of Convertable Warrant not more than 50% of NOSH.
Will Stony get his way?
All the above rule is there to protect the current/existing AAX shareholders.
3 weeks ago
Good news is oil is dropping like flies, and Airasia is holding very well..Future looks bright.
1 week ago
Asia Aviation PLC (AAV), the sole shareholder of Thai Airasia Co. Ltd. (TAA), has announced its operational results for the first quarter of 2024, reporting revenues from sales and services of 13,793.7 THB, an increase of 52 percent year-on-year
https://newsroom.airasia.com/news/aav-q1/2024-operational-result-announcement#gsc.tab=0
1 week ago
Flyhigh...Turning Japanese
https://www.bangkokpost.com/business/general/2794289/thai-airasia-x-optimistic-after-posting-q1-profit
5 days ago
AAX will be better off without taking on the assets and liabilities of capA aviation.
5 days ago
Malaysia’s economy remains resilient amid consumer spending, tech upswing and tourism, says economist. Gogo, AAX
https://www.malaymail.com/news/money/2024/05/17/malaysias-economy-remains-resilient-amid-consumer-spending-tech-upswing-and-tourism-says-economist/134972
3 days ago
EngineeringProfit
Ini Kali lah!!
3 weeks ago