María Amparo Moraleda Martínez proposed to replace Josep Piqué i Camps as a director
Resolutions also include approval of dividend payment, authorisation for share buybacks
Shareholder approval sought for conversion of Airbus Group N.V. to a European Company
Airbus Group (stock exchange symbol: AIR) has published the agenda and other related information online for its Annual General Meeting (AGM) being held on 27 May 2015 at 14:00 local time in Amsterdam.
Under one proposed resolution, shareholder approval will be sought for the appointment of María Amparo Moraleda Martínez as an independent non-Executive Member of the Board of Directors. She would replace Josep Piqué i Camps, who will resign as of the close of the AGM.
The AGM will also be asked to approve a dividend of € 1.20 per share, 60 percent higher than last year and representing a pay-out ratio of 40 percent, at the higher end of the Company’s dividend policy. This proposed amount reflects the good financial progress made in 2014
and confidence in the Company’s outlook for 2015.
Among the other resolutions is the authorisation for the Board of Directors to repurchase up to 10 percent of the Company’s issued share capital for an exceptional share buyback programme. This would give the Board and management flexibility to review capital allocation options going forward, in particular with regard to using proceeds from divestments and to returning a portion to shareholders. Any decision by the Board on whether, and when, to proceed with a share buyback under this resolution would be based on market conditions at the time and other capital allocation considerations, including progress on industrial challenges and planned divestments.
This exceptional buyback would be in addition to a separate resolution for the renewal of the authorisation for the Board to repurchase up to 10 percent of the Company’s issued share capital. The main purpose of this authorisation is the same as in the past, namely for employee share schemes.
Airbus Group does not intend to hold more than 10 percent of its issued share capital following parallel repurchases pursuant to both resolutions. The shares acquired in the context of the exceptional buyback would be promptly canceled by the Company.
Shareholder approval will also be sought for the conversion of the Company into a European Company (Societas Europaea - SE). The main purpose of this move is to reflect, in its legal form, the diversified operational presence of the Group in different European countries.
Airbus Group N.V. would be renamed Airbus Group SE and continue to have its registered seat and head office in Amsterdam. It would remain listed on the stock exchanges of Paris, Frankfurt and Spain without any change.
The Convening Notice and Information Notice for the AGM are available online at: www.airbusgroup.com/int/en/investors-shareholders/General-Meetings.
Airbus Group is a global leader in aeronautics, space and related services. In 2014, the Group – comprising Airbus, Airbus Defence and Space and Airbus Helicopters – generated revenues of € 60.7 billion and employed a workforce of around 138,600.
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