The Kuala Lumpur High Court has confirmed Capital A Bhd’s proposed reduction of issued share capital by RM2.74 billion, clearing the way for the planned distribution of AirAsia X Bhd (AAX) shares to eligible Capital A shareholders.
In a statement today, the group said the move marked one of the last steps in its restructuring, after milestones achieved, including the lifting of conditions in agreements and the declaration of a dividend-in-specie entitlement, Bernama reported.
It said Capital A remains on track to complete the disposal of aviation and distribution businesses by December 2025. The end-phase actions of its restructuring are progressing steadily, it added.
With this approval, the next steps are to distribute AAX shares to Capital A shareholders, seek a High Court order for the capital reduction under the RM5.51 billion regularisation plan, and subsequently apply for the…