Yesterday, all five resolutions tabled at the AAX EGM were passed by shareholders, with over 99.8% overwhelming approval for each resolution.
In a filing with Bursa Malaysia, the medium-haul airline said about 99.9% of shareholders who voted approved the proposed waiver of rights issue to raise gross proceeds of up to RM 300 million.
Meanwhile, the proposal to increase up to RM 200 million by way of subscription by beneficiaries also received 99.9% approval.
The special resolution on the reduction of 99.9% of the issued capital of AAX obtained 99.85% of the total votes.
Shareholders also supported the proposal to consolidate all 10 existing ordinary shares of AAX into one new share, with an approval rating of 99.86%.
The final resolution, which aims to issue new AAX shares to a special purpose vehicle company in accordance with the proposed share subscription, also received 99.9% approval.
The AGE took place via the TIIH Online virtual meeting platform provided by Tricor Investor & Issuing House Services Sdn Bhd.