TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:
Latécoère (Paris:LAT), a tier 1 partner to major international aircraft manufacturers, today announced the signature of a conciliation protocol with all of its present and future financial creditors and its majority shareholder. This protocol concludes the discussions relating to a comprehensive recapitalization of the Group under the aegis of the Comité Interministériel de Restructuration Industrielle (CIRI).
The protocol is subject to the completion of several suspensive conditions, notably its homologation by the Tribunal de Commerce de Toulouse. Under the terms of the protocol, Latécoère’s has undertaken to carry out a capital increase, with preferential subscription rights, for a minimum amount of 162.5 million euros, the prospectus for which must be approved by the AMF. It also provides for the obtaining by the company of Prêt Garanti par l’Etat (PGE) for a principal amount of 130 million euros, the rescheduling of the existing PGE repayment calendars and the deferral of the maturity of the loans contracted with the European Investment Bank (EIB) to 2027.
The Company will keep the market informed in due course of the implementation of the various operations agreed in the conciliation protocol, in accordance with the applicable regulations.
This press release and the information it includes do not constitute an offer to sell or subscribe for, or a solicitation of an order to buy or subscribe for Latécoère securities in Australia, Canada, Japan, or the United States of America or in any other country in which such offer or solicitation would be unlawful.
The release, publication or distribution of this press release may, in certain jurisdictions, constitute a breach of the applicable local laws and regulations. Consequently, persons physically present in such jurisdictions in which this press release is released, published or distributed must be aware of and comply with any such local restrictions. This press release must not be released, published or distributed, directly or indirectly, in Australia, Canada, Japan or the United States of America.
This announcement is not an advertisement and not a prospectus within the meaning of Regulation (EU) No 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing the Prospectus Directive 2003/71/EC (the "Prospectus Regulation").
With respect to the Member States of the European Economic Area other than France, no action has been undertaken or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any relevant Member State. Accordingly, any offer of Latécoère's securities may only be made in any Member State (i) to qualified investors as defined in the Prospectus Regulation, or (ii) in any other case exempting Latécoère from having to issue a prospectus in accordance with Article 1(4) of the Prospectus Regulation.
With respect to the United States, Latécoère’s securities have not been, and will not be, registered under the Securities Act of the United States of America, as amended (U.S. Securities Act of 1933, as amended, hereinafter referred to as the "U.S. Securities Act"). The securities of Latécoère may not be offered, sold, exercised or delivered within the territory of the United States of America, as defined by Regulation S of the U.S. Securities Act, except pursuant to an exemption from the registration.
As a "Tier 1" international partner of the world's major aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault, Embraer and Mitsubishi Aircraft), Latécoère is active in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:
- Aerostructures (55% of turnover): fuselage sections and doors,
- Interconnection Systems (45% of turnover): wiring, electrical furniture and on-board equipment.
As of December 31, 2020, the Group employed 4,172 people in 13 different countries. Latécoère, a French limited company capitalised at € 23,704,629.50 divided into 94,818,518 shares with a par value of €0.25, is listed on Euronext Paris - Compartment B, ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP.