Reference is made to the Company's circular dated 30 June 2025 in relation to, amongst others, the proposed new shareholders' mandate for recurrent related party transactions involving the Charter, which was duly tabled to and approved by the shareholders during the 29th annual general meeting held on 13 August 2025.
The Board of Directors of DXN ("Board") wishes to announce that DXN Aero Nautic Sdn Bhd, Luxaviation San Marino Srl (as Charter carrier) and ExecuJet Asia Pte Ltd (as Charter manager) had, on 29 May 2026, mutually agreed to terminate the Charter ("Termination"). The Termination shall take effect on 31 May 2026.
The Termination reflects the Group's ongoing review of its existing arrangement under the aforementioned Charter, including operational requirements, commercial considerations and the suitability of such arrangements in supporting the Group's business and operational objectives.
Notwithstanding the Termination, the aircraft-related arrangement has formed part of the Group's operational ecosystem, supporting its marketing and business development initiatives, particularly in enhancing brand visibility and facilitating strategic engagements across its key markets. Moving forward, the Company will continue to evaluate more suitable arrangements in continued support of its branding, marketing and operational requirements.
The Termination is not expected to have any material effect on the earnings, net assets, net assets per share and gearing of the Company for the financial year ending 28 February 2027.
The Board, having considered the rationale and implications of the Termination, is of the opinion that the Termination is in the best interests of the Group.
This announcement is dated 29 May 2026.