Capital A Bhd (CAPITALA) expects to exit its Practice Note (PN17) status by May this year, according to its chief executive officer Tan Sri Tony Fernandes. Last Friday (March 7), the group received Bursa Malaysia's green light for its regularisation plan. Before exiting its financially distressed status, Capital A will first need to issue a circular to shareholders detailing its restructuring plan, scheduled in March 2025. By April 2025, the group's shareholders and redeemable convertible unsecured Islamic debt securities (RCUIDS)-holders should vote in favour of the plan during an extraordinary general meeting (EGM), and subsequently, Capital A will secure a High Court approval for its capital reduction exercise by May 2025.The High Court has fixed March 21, 2025 as the hearing date for the group's capital reduction and distribution exercise pursuant to the proposed distribution of AirAsia Group Bhd (AAGB) shares.