KUALA LUMPUR (Jan 5): AirAsia Group Bhd said on Wednesday (Jan 5) the proposed name change to Capital A Bhd aims to give the group a new corporate identity that offers a better reflection of its core business and future undertakings in tandem with the company's rapid transformation from an airline into a digital travel and lifestyle services entity.
The proposal will be tabled at an extraordinary general meeting (EGM) on Jan 27, 2022 to seek shareholders’ approval.
In a circular to shareholders on Wednesday, AirAsia Group said the structural change will facilitate strong projected growth in the company's businesses.
"We believe that the new company name will further enhance and be in line with our purpose to connect people and transform lives.
"It will also set the tone of the group as it expands into new horizons and allay concerns of being a group that was intrinsically an airline,” said AirAsia Group.
“Our board, after having considered all aspects of the proposed change of name, is of the opinion that the proposed change of name is in the best interests of our company. Accordingly, our board recommends that you VOTE IN FAVOUR of the special resolution pertaining to the proposed change of name to be tabled at the forthcoming EGM,” it said.
AirAsia Group said the virtual EGM will be held on Jan 27 at 3pm via live streaming from the online meeting platform using the remote participation and voting facilities provided by Tricor Investor & Issuing House Services Sdn Bhd.
At Bursa Malaysia’s 12.30pm break on Wednesday, AirAsia Group’s share price settled down one sen or 1.23% at 80 sen, which gives the company a market capitalisation of about RM3.05 billion based on the group’s 3.81 billion issued shares.
AirAsia Group saw 3.77 million shares changing hands.