Annual Report 2020

43. Subsequent events (cont'd.) (iii) Proposed acquisition of remaining 20% equity interest in BigLife Sdn Bhd On 14 April 2021, the Company has entered into a share sale and purchase agreement ("SSPA”) with AIMIA Holdings UK II Limited ("AIMIA") for the proposed acquisition of the remaining 1.7 million ordinary shares in BigLife, representing 20% of the equity interest in BigLife, from AIMIA for a purchase consideration of RM103 million to be satisfied wholly via the issuance of 85.9 million new ordinary shares of the Company at an issue price of RM1.20 per share. The completion of the sales and purchase agreement is subject to shareholders approval. 44. Other matters Litigations involving AAB and Malaysia Airports (Sepang) Sdn Bhd (“MASSB”) In prior years, AirAsia Berhad (“AAB”), a wholly owned subsidiary of the Company, received a Writ of Summons and Statement of Claim (“Claim”) dated 10 December 2018 and on 31 January 2019, Malaysia Airports (Sepang) Sdn Bhd (“MASSB”) filed claims at the High Court of Malaya at Kuala Lumpur, claiming the additional RM23 per Passenger Services Charges (“PSC”) which AAB was required to collect effective 1 July 2018. On 18 September 2019, AAB paid a sum of RM14 million (being the amounts specified in the Garnishee Show Cause Orders dated 23 August 2019) to MASSB to defray the garnishee execution proceedings. The payment was made by AAB without prejudice to AAB’s rights, including AAB’s rights in the appeals made in relation to the judgement order dated 18 July 2019 and any connected interlocutory applications. On 2 October 2019, AAB filed a Writ of Summons at the Kuala Lumpur High Court against MASSB for a sum of RM479.8 million, being loss and damage caused by negligence on the part of MASSB, its servants and/or agents in the management, operation, maintenance and/or provision of airport services and facilities at KLIA2. Following to above, on 22 January 2021, MASSB filed a supplementary affidavit in an attempt to adduce fresh evidence in these appeals. On 5 February 2021, the Company filed motions to adduce fresh evidence in these appeals. In view of these developments, the hearing proper of the appeals were adjourned, pending the disposal of the Company's motions to adduce fresh evidence and MASSB’s supplementary affidavits. On 24 March 2021, the Court of Appeal allowed the Company's motions to adduce fresh evidence and Supplementary Records of Appeal consisting of the fresh evidence were filed on 5 April 2021 and served on 6 April 2021. Litigations involving AAB and Malaysia Airports (Sepang) Sdn Bhd (“MASSB”) On 14 April 2021, the Court of Appeal gave directions for the filing of written submissions and fixed the appeals for: (a) e-Review case management on 12 January 2022; and (b) e-appellate hearing by Zoom on 27 January 2022. The Company's application to expunge an affidavit filed by MASSBwhich contains without prejudice communications and negotiations regarding disputed matters that have not been concluded. The expungement application is fixed for decision on 12 March 2021 which was adjourned to 9 April 2021. On 9 April 2021, The High Court fixed the Expungement Application for physical hearing and the Striking Out Application and FBP Application for case management on 27 July 2021. Notes to the Financial Statements For the financial year ended 31December 2020 278 AIRASIA GROUP BERHAD