Tiger Air

Tiger Air has via its wholly-owned subsidiary, Roar Aviation (Roar) increased its shareholding in the capital of PT Mandala Airlines (Mandala) by 23m shares. The increase in shareholding arises from Roar’s subscription for and allotment of the Mandala Rights Shares under Mandala’s rights issue, at the price of IDR 4,500 per Mandala Rights Share. As such, Tiger's shareholding interest in Mandala has increased from 33.0% to 35.8% as a result of the rights subscription.