Dec 8 (Reuters) - Regional Express Holdings Ltd REX.AX :
* REGIONAL EXPRESS HOLDINGS LTD - FIRB APPROVAL GIVEN TO PAG FOR INVESTMENT IN REX-REX.AX
* REX - REX WILL BE ISSUING UP TO $150 MILLION WORTH OF CONVERTIBLE NOTES TO PAG TO FUND ITS DOMESTIC OPERATIONS
* REX - COMPLETED A PROVING FLIGHT FOR CASA ON 2 DECEMBER 2020 AND EXPECTS OUTCOME OF ITS APPLICATION FOR A HCAOC TO BE KNOWN BY 18 DECEMBER 2020
* REX - NOTES COULD BE CONVERTED TO ORDINARY SHARES AT $1.50 AND PAG COULD POTENTIALLY HOLD UP TO 47% OF REX'S SHARES IF FULLY CONVERTED