FIGEAC AERO: FIGEAC AÉRO REACHES A NEW KEY STEP IN THE IMPLEMENTATION OF ITS FINANCIAL RESTRUCTURING PLAN – 05/09/2022 at 20:50

• Approval of all the resolutions relating to changes to the terms of the ORNANEs;
  

• Receipt of partial redemption requests relating to 22.65% of the outstanding ORNANEs for a total price of €18.6 million.
  

The FIGEAC AÉRO Group (ticker code: FGA) (the “

Company

“), a reference partner of the major aerospace manufacturers, announces today that all the resolutions necessary for the implementation of the financial restructuring plan have been approved by a very large majority, within the framework of the general meeting of holders of bonds redeemable in cash and/or in new and/or existing shares (the ”

ORNANEs

”) which was held today.

In addition, in accordance with the terms of the agreement on the adjustment of its financial structure announced on April 5, 2022 and the press release of April 15, 2022, the partial redemption period for the ORNANEs was closed today.

On the occasion of the general meeting of ORNANE holders, Jean-Claude Maillard, Chairman and Chief Executive Officer of FIGEAC AÉRO, declared: ”

The approval of the ORNANE holders and the interest generated by the partial redemption represent essential steps in the implementation of our financial restructuring plan. We would like to thank the holders of ORNANEs for having renewed their confidence in us and for the significant efforts they have made to support the future of the Group, which will enable us to emerge stronger from this period and thus take advantage of the recovery in activity. of the aeronautical sector.

»

Voting results of the general meeting of ORNANE holders

The General Meeting of ORNANE holders meeting today approved all of the resolutions relating to changes to the terms and conditions of the ORNANEs, relating in particular to an extension of the maturity of the ORNANEs to October 2028, (ii) an increase in the conversion rate from 1:1 to 1:3.4, and (iii) an increase in coupon to 1.750%.

All resolutions were adopted by 100% of the votes cast, in accordance with the recommendations of the Board of Directors. 2,035,295 ORNANEs were registered out of a total of 3,433,715 ORNANEs, representing a quorum of 59.27%.

The Company recalls that the approval of all the resolutions put to the vote of the general meeting of ORNANE holders on May 9, 2022 was one of the conditions for the implementation of the adjustment of the financial structure as as described in the press release dated April 5, 2022.

Final results of the partial redemption of ORNANEs

The Company recalls that the period of partial redemption of ORNANEs, during which the holders of ORNANEs could request the Company to redeem their ORNANEs at a price of €23.92

[1]

by ORNANE was closed today at 11 a.m.

The Company received redemption requests for a total number of 824,609 ORNANEs, representing a total nominal value of €21,208,943. Insofar as redemption requests made by unitholders exceed the amount of the envelope of €18.6 million set aside by the Company, and in order to respect equal treatment between all unitholders, all requests received will be reduced proportionally to this amount (the “

Partial Redemption

“).

As part of the Partial Redemption, the Company will thus redeem a total number of 777,605 ORNANEs with a total nominal value of €20,000,000.60 at a total redemption price of €18,600,311.60. The repurchased ORNANEs will represent 22.65% of the 3,433,715 ORNANEs in circulation. The redemption of these ORNANEs will be materialized in the coming days by the conclusion of bilateral agreements (

Bond Repurchase Agreements

) between the Company and each participant in the offer in accordance with the final amounts announced today.

The settlement-delivery operations of the Partial Redemption must take place on June 30, 2022 at the latest. The ORNANEs thus bought back will be canceled by the Company.

The Company recalls that the effective completion and settlement of the Partial Redemption of the ORNANEs remain subject to (i) the finalization of the documentation with the banking partners with regard to the rescheduling of existing financing and the obtaining of new financing, (ii) for the approval of the shareholders who will meet at a combined general meeting on May 20, 2022 in order to decide in particular on the modification of the terms of the ORNANEs and on a capital increase of Tikehau Ace Capital for an amount between €53.5 million and €58.5 million (issue premium included) (see the Company’s press releases of April 15, 2022 and April 29, 2022), and (iii) the completion of the capital increase of Tikehau Ace Capital d an amount between €53.5 million and €58.5 million (issue premium included), by June 30, 2022 at the latest.

ABOUT FIGEAC AERO

The FIGEAC AÉRO Group, a benchmark partner for major aerospace manufacturers, specializes in the production of structural parts in light alloys and hard metals, engine parts, landing gear and sub-assemblies. An international group, FIGEAC AÉRO is present in France, the United States, Morocco, Mexico, Romania and Tunisia. As of March 31, 2021, the Group achieved annual revenue of €204.6 million.

WARNING

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 optimization plan and the impact of this plan on FIGEAC AÉRO’s capacity. to limit the impact of the significant drop in activity linked to the Covid-19 crisis on the Group’s profitability. The use of certain words, such as “believe”, “potential”, “hope”, “should”, “aim” and other similar expressions or expressions, are intended to identify these forward-looking statements. Although the Company considers that its projections are based on current reasonable assumptions and expectations of its General Management, these forward-looking statements may be called into question by a certain number of known or unknown hazards and uncertainties, which could give rise to results materially different from those described, implied or anticipated, expressed or implied, in such forward-looking statements. These vagaries and uncertainties include in particular aircraft production rates from manufacturers. Moreover, even if the results, performance, financial situation and liquidity of the Company and the development of the industrial sector in which it operates are in line with such forward-looking statements, they cannot be predictive of results or developments in the future. These forward-looking statements speak only as of the date of the publication of this document. Subject to applicable regulations, the Company makes no commitment to update or revise the information contained in this press release, whether due to 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 generally beyond the control of FIGEAC AÉRO.

[1]

This price including the accrued coupon.

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