FIGEAC AERO : APPROVAL BY THE GENERAL MEETING OF SHAREHOLDERS OF ALL RESOLUTIONS ENABLING THE GROUP TO IMPLEMENT ITS FINANCIAL RESTRUCTURING PLAN, INCLUDING THE SHARE CAPITAL INCREASE RESERVED TO TIKEHAU ACE CAPITAL

The FIGEAC AÉRO Group (ticker: FGA) (the “Company”), a leading partner for major aerospace manufacturers, today announces that all the resolutions that needed to pass in order to implement its financial restructuring plan were approved by a very large majority of shareholders during the extraordinary and ordinary general meeting held at 11am on Friday May 20^th, 2022, on first convening.

Jean-Claude Maillard, Chairman and Chief Executive Officer of FIGEAC AÉRO, said during the general meeting of shareholders that: “Today's shareholders' approval is an important step in the Group's financial restructuring process, and I would like to thank them for their support. Not only will the Group be able to continue serving its clients thanks to them, but they are also giving a major player within the aerospace industry an opportunity to emerge from the public health crisis on a stronger footing.”

Results of the votes held at the general meeting of shareholders

The general meeting of shareholders held on May 20^th, 2022 approved all the resolutions relating to (i) an amendment to the terms and conditions of the net share settled bonds convertible into new shares and/or exchangeable for existing shares (the “ORNANEs”), (ii) the share capital increase reserved to Tikehau Ace Capital and (iii) the change in the composition of the Company's Board of Directors that would result from the share capital increase reserved to Tikehau Ace Capital.

All the resolutions, except resolution n°5[1], were adopted with a very large majority of more than 97% of the votes cast, as per the recommendations made by the Board of Directors. Some 25,495,916 shares conferring voting rights were recorded out of a total of 31,839,473 shares, corresponding to a quorum of 80.08%.

Detailed information about the quorum and votes cast for each resolution can be found on the Company's website: https://www.figeac-aero.com/en/categorie/investor-relations/general-meetings.

The Company points out that the resolutions regarding changes to the terms and conditions of the ORNANEs and regarding the share capital increase reserved to Tikehau Ace Capital in the amount of between €53.5 million and €58.5 million (including the share premium) (see the Company's press releases issued on April 15^th, 2022 and April 29^th, 2022 and the recovery prospectus approved by the Autorité des Marchés Financiers on May 10^th, 2022 under number 22-140), which were put to the vote at the general meeting of shareholders on May 20^th, 2022, needed to be approved as a prerequisite for implementing the planned adjustment to the financial structure as described in the press release of April 5^th, 2022.

The Company also reminds that its financial restructuring plan, as announced to the market on April 5^th, 2022, comprises a share capital increase reserved to Tikehau Ace Capital in the amount of at least €53.5 million (including the share premium), the rescheduling of the Company's main bank loans up to 2028 and the readjustment to the terms and conditions of the ORNANEs, including the partial buy-back of 777,605 ORNANEs as announced by the Company on May 9^th, 2022 in the total nominal amount of €20 million; these are all mutually dependent transactions to be completed no later than June 30^th, 2022.

ABOUT FIGEAC AÉRO

The FIGEAC AÉRO Group, a leading partner for major aerospace manufacturers, specialises in producing light alloy and hard metal structural parts, engine parts, landing gear and sub-assemblies. FIGEAC AÉRO is a global group operating in France, the USA, Morocco, Mexico, Romania and Tunisia. The Group generated annual revenue of €204.6 million in the year to 31st March 2021.

DISCLAIMER

This press release contains forward-looking statements about FIGEAC AÉRO and in particular forward-looking statements relating to FIGEAC AÉRO's ability to implement its operational optimisation plan and the impact of this plan on FIGEAC AÉRO's ability to limit the impact of the significant decline in activity related to the Covid-19 crisis on the Group's profitability. The use of certain words, such as "believe", "potential", "hope", "should", "objective" and other similar terms or expressions, is intended to identify these forward-looking statements. Although the Company believes that its projections are based on current reasonable assumptions and expectations of its management, these forward-looking statements may be affected by a number of known or unknown hazards and uncertainties, which could result in results materially different from those described, induced or anticipated, expressly or implicitly, in such forward-looking statements. These hazards and uncertainties include, in particular, aircraft production rates emanating from manufacturers. In addition, while the Company's results, performance, financial condition and liquidity and the development of the industry in which it operates are consistent with such forward-looking statements, they are not predictive of future results or developments. These forward-looking statements speak only as of the date this document is made. Subject to applicable regulations, the Company makes no commitment to update or revise the information contained in this press release, whether as a result of new information, future events or otherwise. Forward-looking information and statements are not guarantees of future performance and are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond the control of FIGEAC AÉRO.

[1] Entitled “delegation of authority to be granted to the board of directors for the purpose of carrying out an issuance, reserved to employees having subscribed to a company savings plan and without preferential subscription rights in their favour, of shares and/or securities conferring entitlement to the Company's new shares, in accordance with article L. 225-138-1 of the French Commercial Code”.

Source Actusnews