Latécoère Will Propose to Implement an Equity Incentive Plan at a Next Shareholders’ Meeting to Be Convened on March 22, 2022
Regulatory News:
Latécoère (Paris:LAT) (“the Company or the Group”) is a leading partner of the world’s major aerospace manufacturers serving the aerospace industry with innovative solutions for a sustainable world.
While the aerospace industry has suffered from the impacts of the global Covid-19 pandemic, Latécoère has taken many actions to ensure it can both weather the storm and emerge stronger from this crisis including strengthening the team, improving focus on customer needs and satisfaction, improving operations efficiency and making strategic investments including acquisitions such as Bombardier EWIS and TAC.
Retaining and attracting new talent will be essential to deliver this ambitious plan and continue this positive momentum moving forward. Therefore, Latécoère Board of Directors has decided to propose to the shareholders of the Company the implementation of an equity incentive plan for the benefit of the Company's employees and corporate officers. This will allow to foster long-term ties and align shareholders’ and management interests.
In order to increase the company’s attractiveness and full alignment of the managers with shareholders’ interest, a wider group of employees of the Group would also benefit from a dedicated plan for the allocation of free ordinary shares of the Company.
The financial delegations required for the implementation of this incentive plan will be submitted to the vote of the Shareholders’ Meeting of the Company which will be convened on March 22, 2022. All the documentation relative to this Shareholders’ Meeting will be made available on the Company’s website within the legal deadlines.
Pierre Gadonneix, Chairman of the Latécoère Board of Director, said: “Latécoère has the intention to complement its strong leadership team led by Thierry Mootz and develop incentives for the existing and future managers of the Group. The proposed incentive plan, combined with an ongoing recruitment campaign, will ensure the preparation of the Group for the industry rebound and seizing external growth opportunities.”
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About Latécoère
As a leading partner of the world’s major aerospace manufacturers serving the aerospace industry with innovative solutions for a sustainable world, Latécoère is active in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:
- Aerostructures (46% of turnover): fuselage sections and doors,
- Interconnection Systems (54% of turnover): wiring, electrical furniture and on-board equipment.
As of December 31, 2020, the Group employed 4 764 people in 14 different countries. Latécoère, a French limited company capitalised at €132,745,925 divided into 530,983,700 shares with a par value of €0.25, is listed on Euronext Paris - Compartment B, ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP.
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Taddeo
Antoine Denry / Investor Relations
+33 (0)6 18 07 83 27
Marie Gesquière / Media Relations
+33 (0)6 26 48 97 98
teamlatecoere@taddeo.fr
