AirAsia X seals Thai pact
KUALA LUMPUR: AirAsia X has sealed a joint-venture agreement (JVA) with the shareholders of Thai AirAsia X, Tassapon Bijleveld and Julpas Kruesopon.
The JVA sets out the terms governing AirAsia X's relationship in Thai AirAsia X and to regulate the business and affairs of the latter.
As part of the JVA term, Thai AirAsia X will have a paid-up capital of 1.12 billion baht (RM114.4 million) divided into 112.53 million shares at the par value of 10 baht per share.
AirAsia X has subscribed for 49 per cent of the shares, being a capital and investment outlay in Thai AirAsia X up to 2015. This equals to a total capital contribution of up to US$17.15 million (RM55.6 million).
Bijleveld and Kruesopon's capital and investment outlay in Thai AirAsia X up to 2015 will be equivalent to US$14.35 million and US$3.5 million, respectively.
AirAsia X told Bursa Malaysia yesterday that the capital contribution into Thai AirAsia X will be made in over three years from 2013 to 2015.
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