We refer to the announcement dated 24 May 2017 where AirAsia Berhad ("AAB" or "the Company") announced its successful acquisition of 2 ordinary shares in RedTix Sdn. Bhd. (Company No: 1096870-M) [formerly known as Rokki Media Sdn. Bhd.] (“RTSB”) from Rokki Media Holdings Sdn. Bhd. (Company No: 1096871-H), which was in total, equivalent to one hundred percent (100%) of the share capital of RTSB for a total purchase consideration of RM2.00, of which was satisfied in full by way of cash (“Acquisition of RTSB”).

Pursuant to the above, AAB wishes to announce that:

1. the Company proposes to rationalise its event ticketing business (“RedTix Business”), which currently resides within AAB. As such, on 31 May 2017, AAB had entered into a Business Transfer Agreement with RTSB for the transfer of the entire assets, liabilities, activities, business and undertakings of the RedTix Business to RTSB for a consideration of RM1.00 (“Proposed Business Transfer”), to be satisfied by way of cash;
2. the Company and Bakehouse Venture Builders Sdn. Bhd. (Company No: 1212933-K) (“BVBSB”) (collectively referred to as the “Subscribers”) entered into a Share Subscription Agreement with RTSB 1 June 2017, for the issuance and allotment of 3,799,998 new RTSB ordinary shares (“Subscription Shares”) in the ratio described in paragraph 4, at an issue price of RM1.00 per Subscription Share, for a total consideration of RM3,799,998 to be satisfied in full by way of cash (“Proposed Share Issuance”). This would result in RTSB having a total issued and paid-up share capital of RM3,800,000; and
3. on 1 June 2017, AAB and BVBSB have also entered into a Shareholders Agreement (“SHA”) to set out their relationship as shareholders of RTSB.

collectively referred to as the Proposed Transactions.

Please refer to the attachment for further details.

This announcement is dated 1 June 2017.