The General Meeting of Shareholders of Zodiac Aerospace is held in January each year.
Shareholders’ meetings are convened, held, and transact business as provided by law.
All shareholders may participate in person or by proxy in General Meetings provided they are recorded in the Company’s registers.
These formalities must be carried out at least five days before the meeting.
Shareholders may only be represented by another shareholder or by their spouse. Proxies completed in accordance with the prevailing regulations must be sent to the Company’s registered office at least five days before the meeting.
In principle, each share confers the right to one vote.
However, a double voting right is awarded to all fully paid up shares which have been held in registered form in the name of the same shareholder for at least four years.
The provisions of the French Commercial Code stipulate that the double voting right automatically ceases if the share is converted to bearer form. The double voting right also ceases automatically if the shares are transferred, where this involves a transfer of ownership. Accordingly, a transfer for a guarantee or a usufruct transfer allow this right to be preserved.
Similarly, transfer as a result of inheritance, liquidation of community of property between spouses, or a gift to a spouse or direct relative do not lead to the loss of the double voting right.
By way of reminder, pursuant to Article 9 of the Bylaws of Zodiac Aerospace, any person acting alone or in concert who holds or comes to hold a percentage of the Company’s capital equal to 2% of the capital is required to inform the Company of the total number of Company shares held directly or indirectly or in concert within 15 days from the day that this disclosure threshold is crossed.
Failure to comply with this obligation and subject to a request recorded in the Minutes of the General Meeting by one or more shareholders holding at least 2% of the equity capital or a multiple of that percentage, the shares exceeding the 2% threshold which should have been declared are stripped of their voting right for all General Meetings of Shareholders which are held for a period of 2 years following the date on which the breach of notification is corrected.
Any person, acting alone or in concert, is also required to inform the Company within the above-mentioned 15-day period, if the percentage of capital they own falls below 2% of the capital or a multiple of this percentage.