Annual Report 2020

Directors (cont'd.) The directors and officers of the Group and of the Company are covered under a Directors' and Officers' Liability Insurance up to an aggregate limit of RM100,000,000 against any legal liability, if incurred by the directors and officers of the Group and of the Company in the discharge of their duties while holding office for the Company and its subsidiaries. Directors' benefits During and at the end of the financial year ended 31 December 2020, no arrangements subsisted to which the Company is a party, being arrangements with the object or objects of enabling directors of the Company to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate. Since the end of prior year, no director has received or become entitled to receive a benefit by reason of a contract made by the Company or a related corporation with the director or with a firm of which he is a member, or with a company in which he has a substantial financial interest, except as disclosed in Note 5(b) and Note 5(c) to the financial statements. Directors' interests According to the register of directors' shareholdings, the interests of directors in office at the end of the financial year in shares in the Company and its related corporations during the financial year were as follows: Number of ordinary shares At 1.1.2020 Acquired Disposed At 31.12.2020 Direct interests in the Company Datuk Kamarudin bin Meranun 2 2,000,000 - - 2,000,000 Tan Sri Anthony Francis Fernandes 2 1,600,000 - - 1,600,000 Dato’ Abdel Aziz @ Abdul bin Abu Bakar 989,500 - - 989,500 Dato' Mohamed Khadar bin Merican 250,000 - - 250,000 Stuart L Dean 40,000 - - 40,000 Number of ordinary shares At 1.1.2020 Acquired Transferred^ At 31.12.2020 Indirect interests in the Company Tan Sri Anthony Francis Fernandes 1 1,075,485,082 - (50,000,000) 1,025,485,082 Datuk Kamarudin bin Meranun 1 1,075,485,082 - (50,000,000) 1,025,485,082 ^  Transfer of 50,000,000 Ordinary Shares by Tune Live Sdn Bhd 3 ("TLSB") under B5 Category as approved by Bursa Malaysia Depository Sdn Bhd on 28 October 2020. 1 By virtue of their interests in shares of more than 20% in the substantial shareholders of the Company, Tune Air Sdn Bhd 2 (“TASB”) and TLSB 3 , Tan Sri Anthony Francis Fernandes and Datuk Kamarudin bin Meranun are deemed to have interests in the Company to the extent of TASB’s and TLSB's interests therein, in accordance with Section 8 of the Companies Act, 2016. 2 Shares held under HSBC Nominees (Tempatan) Sdn Bhd for TASB 3 Shares held under RHB Capital Nominees (Tempatan) Sdn Bhd and HSBC Nominees (Tempatan) Sdn Bhd for TLSB Other than as disclosed above, none of the other directors in office at the end of the financial year held any interest in shares or debentures of the Company and its related corporations during the financial year. Directors' Report 168 AIRASIA GROUP BERHAD