The Air France-KLM (the “Company”) Combined Ordinary and Extraordinary Shareholders’ Meeting was held on Monday 4 September at the Hotel Pullman Paris Centre Bercy. It was convened in order to implement part of the strategic transactions presented on July 27, 2017.
During this Shareholders’ Meeting, where more than 54.85% of the shareholders were present or represented, all the proposed resolutions were adopted. In addition, upon request of a shareholder during the meeting, a new resolution relating to the appointment of a nineteenth Board director was adopted. The following decisions were taken:
- Appointment of two new Board directors each representing China Eastern Airlines and Delta Air Lines, as from the completion of the reserved share capital increases and for a four-year period: Mr. Bing Tang and Delta Air Lines Inc. whose permanent representative will be Mr. George Mattson;
- Appointment of the company Air France-KLM Finance SAS, as nineteenth Board director, as from the completion of the reserved share capital increases to the benefit of China Eastern and Delta Airlines and for a four-year period, whose permanent representative will be a woman;
- The Board of Directors is authorized to implement the reserved capital increases for the benefit of China Eastern Airlines and Delta Air Lines each for a total nominal amount of 37,527,410 euros at a price of 10 euros per share;
The completion of these reserved share capital increases is subject to the approval of the corresponding regulatory authorities;
- Finally, capital increases reserved for members of a company or Group savings scheme were authorized for a duration of 12 months and within a limit of 2% of the share capital. This authorization replaces the resolution of the same nature which was voted by the Shareholders’ Meeting of May 16, 2017.
The detailed results of the votes are available on the Company’s website (http://www.airfranceklm.com/en/finance/shareholders/annual-general-meeting).
Following the General Meeting, Jean Marc Janaillac, Chairman and CEO of Air France-KLM, said: "Our shareholders have largely approved the strategic step forward proposed to them. The partnerships to be finalized with China Eastern Airlines and Delta Airlines are an integral part of the Trust Together project, which aims to resume the offensive and position Air France as the European pillar of the most integrated network of partners in the world. These operations also make it possible to continue improving the Group's financial structure, thus confirming its ability to control its growth strategy”.