The terms used herein shall have the same meaning as those defined in the Circular to Shareholders dated 4 June 2021 unless otherwise stated.

We refer to the Circular to Shareholders dated 4 June 2021 in relation to the Proposed Acquisition (“Circular”). 

On behalf of the Board, RHB Investment Bank wishes to announce that as part of the Company’s on-going internal reorganisation plans, the Company intends to undertake the following:

(i) transfer by AirAsia Com Travel Sdn Bhd (“AirAsia Com Travel”) of its entire equity interest in AirAsia Ads Sdn Bhd (“AirAsia Ads”) (being 100% equity interest in AirAsia Ads) to AirAsia Digital. As at the date hereof, AirAsia Ads is a wholly owned subsidiary of AirAsia Com Travel and AirAsia Com Travel is in turn a wholly owned subsidiary of AirAsia Digital. Following the transfer, AirAsia Ads will be renamed as “AirAsia Superapp Sdn Bhd”, operating 3 main verticals (namely, travel, e-commerce and financial services); and

(ii) transfer of the existing 80% equity interest in BigLife held by AirAsia Digital to AirAsia Ads.

In connection with the above, the Company will nominate AirAsia Ads to receive the Sale Shares (representing the balance of 20% equity interest in BigLife), instead of AirAsia Digital (as set out in Section 2.2.1 of Part B of the Circular). For clarification purposes, the SSPA provides that the Company may nominate any nominee as it may direct in writing to receive the Sale Shares on Completion.

Upon completion of the above transfers and the Proposed Acquisition, AirAsia Ads, which will be wholly owned by AirAsia Digital directly, will hold 100% equity interest in BigLife.

Save for the above, all other information in the Circular remains unchanged.

This announcement is dated 17 June 2021.