Bombardier will seek authorization to consolidate shares
MONTREAL, March 25, 2022 (GLOBE NEWSWIRE) — Bombardier today issued its notice of the annual and special meeting of shareholders to be held on May 5, 2022 at 10:30 a.m. EDT (the Annual Meeting), which will include a special resolution authorizing the Corporation to amend its Restated Articles of Incorporation to effect, at the discretion of the Board of Directors, a Bombardier Class A Share Consolidation and a Class B Share Consolidation. Shares would be taken at a ratio of between ten to one (10 to 1) and thirty to one (30 to 1), the exact ratio to be determined by the Board of Directors of the Company at a later date.
Bombardier now focuses exclusively on designing, manufacturing and servicing the world’s best business jets. The objective of the share consolidations is to adjust the number of outstanding common shares of Bombardier to a level comparable to that of companies with similar market capitalization traded on the Toronto Stock Exchange (TSX).
“This is another step in Bombardier’s journey to become a leaner, stronger business aircraft company focused on creating value for all of its stakeholders,” said Eric Martel, President and CEO of Bombardier. “A stock consolidation is a logical and beneficial step in this transformation, with the potential to provide investors with additional trading liquidity.”
Registered holders of Bombardier common shares at the close of business on March 7, 2022 will be entitled to vote on the business of the annual meeting, including the special resolution for the share consolidations.
If the special resolution is approved, the board of directors will continue to monitor market conditions and will have discretion, for a period of one year following the general meeting, to determine the exact consolidation ratio and timing of the business combinations. actions (including not effecting any reverse stock split) that the Board deems to be in the best interest of the Company and its stakeholders.
Investors and shareholders can obtain additional information about the proposed share consolidation and special resolution in Bombardier’s 2022 Management Proxy Circular available on SEDAR and on Bombardier’s website.
Bombardier is a global aviation leader, focused on designing, manufacturing and servicing the world’s most exceptional business jets. from Bombardier Challenger and Global The aircraft families are renowned for their advanced innovation, cabin design, performance and reliability. Bombardier has a worldwide fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional providers, governments and individuals. Bombardier aircraft are also recognized worldwide for special missions.
Based in Montreal, Quebec, Bombardier operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. The company’s strong customer support network includes facilities in strategic locations in the United States and Canada, as well as the United Kingdom, Germany, France, Switzerland, Italy, Austria, Emirates United Arab Emirates, Singapore, China and a facility in Australia that will open in 2022.
For corporate news and information, including Bombardier’s environmental, social and governance report, visit bombardier.com. Learn more about Bombardier’s advanced products and customer service network at businessaircraft.bombardier.com. Follow us on Twitter @Bombardier.
Certain statements contained in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the statements. prospective.
|Francois Richer de La Fleche
Vice President, Financial Planning and Investor Relations
+1 514 240 9649
Senior Director, Communications
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