AEON Credit Service’s two ordinary resolutions tabled at the Extraordinary General Meeting were passed by the shareholders of the Group today.
Daisuke Maeda, Managing Director of AEON Credit said: “We are pleased to conclude our EGM with the resolution passed, as we believe that the proposed joint venture and proposed bonus issue is the right direction for the Group’s next stage of growth.”
On 14 July 2023, AEON Credit entered into a shareholders’ agreement with AEON Financial Service Co., Ltd to undertake digital Islamic banking business through ACS Digital Berhad.
Upon which the group will subscribe for 175 million ordinary shares for a total subscription price of RM175 million at RM1.00 per share will result in an initial share capital base of RM350 million. Through this exercise, AEON Credit and AFS shall hold a 50% equity interest each in ACSD respectively.
“The Proposed Joint Venture will be financed entirely through the Company’s internally generated funds and is expected to make a favorable and sustainable long-term impact on our earnings, with our targeted commencement of the digital Islamic banking operations in Q1 of the upcoming year.”
AEON Credit also received the green light from shareholders for the proposed bonus issue of 255,307,690 new ordinary shares on the basis of 1 bonus share for every 1 AEON Credit share.
