On behalf of the Board of Directors of AAX, CIMB Investment Bank Berhad wishes to announce that AAX proposes to undertake the following:

(i)         Proposed renounceable rights issue of new ordinary shares of RM0.15 each in AAX ("AAX Shares") together with free detachable warrants to raise gross proceeds of up to RM395.00 million ("Proposed Rights Issue with Warrants"); and

(ii)         Proposed increase in the authorised share capital of AAX from RM500.00 million comprising 3,333,333,333 AAX Shares to RM1,000.00 million comprising 6,666,666,667 AAX Shares (“Proposed Increase in the Authorised Share Capital”) and the corresponding proposed amendment to the Company’s memorandum and articles of association as a consequence of the Proposed Increase in the Authorised Share Capital (“Proposed Amendment”).

(collectively referred to as the “Proposals”).

Please refer to the attachment for the full announcement in relation to the Proposals.