Annual Report 2020

ADDITIONALCOMPLIANCE INFORMATION The information set out below is disclosed in compliance with the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) for the financial year ended 31 December 2020 (“Financial Year”) for AirAsia Group Berhad (“AAGB”): 1. UTILISATION OF PROCEEDS FROM CORPORATE PROPOSAL The Company had at its Third Annual General Meeting held on 28 September 2020 (“3rd AGM”) obtained its shareholders’ approval on the general mandate for issuance of shares by the Company pursuant to Sections 75 and 76 of the Companies Act, 2016 (“Act”) as well as the Additional Temporary Relief Measures to listed corporations for COVID-19, issued by Bursa Malaysia via its letter dated 16 April 2020, for the Board of Directors of the Company to issue ordinary shares in the Company at their discretion provided that the aggregate number of shares issued does not exceed 20% of the total number of issued shares (excluding treasury shares) of the Company at any point of time, inclusive of the extended utilisation period until 31 December 2021, unless revoked or varied by an ordinary resolution of the Company at a general meeting (“20% General Mandate”). Pursuant to the 20% General Mandate obtained at the 3rd AGM, the Company had on 21 January 2021 announced the private placement of up to 668,394,816 new ordinary shares (“Placement Shares”) in the Company, representing up to 20% of the Company’s enlarged issued share capital, which was done in the following tranches: (a) t he Company completed the listing of and quotation for 369,846,852 units of Placement Shares on the Main Market of Bursa Malaysia on 19 February 2021; (b) t he Company completed the listing of and quotation for 100,367,362 units of Placement Shares on the Main Market of Bursa Malaysia on 17 March 2021. As at 30 April 2021, the Company had utilised approximately RM293.9 million of the total gross proceeds of RM454.5 million, the details of which are disclosed in the following table: Proposed utilisation of proceeds Proposed Utilisation RM’000 Actual Raised RM’000 Actual Utilisation RM’000 Balance RM’000 Expected timeframe for utilisation (from the date of listing of Placement Shares) Fuel hedging settlement 146.6 108.6 89.3 19.3 6 – 12 months Aircraft lease and maintenance payments 95.2 70.5 70.5 0 3 months AirAsia Digital Sdn Bhd business units’ development costs, product & market expansion costs, and marketing expenses 77.0 57.0 39.1 17.9 Within 12 months General working capital expenses 135.5 100.4 94.7 5.7 Within 6 months Estimated expenses for the Proposed Private Placement 0.2 0.2 0.2 0 Immediately after the c ompletion of the Proposed Private Placement Total # 454.5 336.5 293.9 42.6 Notes: # The actual amount of proceeds raised from the Private Placement depends on, amongst others, the actual issue price and the number of Placement Shares issued. The Company will allocate the utilisation of proceeds in the same weightage as set out in the announcement on the proposed utilisation. 2. MATERIAL CONTRACTS INVOLVING DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS There were no material contracts entered into by AAGB and its subsidiaries involving directors’ and major shareholders’ interests still subsisting at the end of the Financial Year. 159 ANNUAL REPORT 2020