Latécoère will propose to set up a stock incentive plan at a next general meeting to be held on March 22, 2022
Toulouse, France–(BUSINESS WIRE)–Regulatory news:
Latécoère (Paris:LAT) (“the Company or the Group”) is a leading partner of the world’s leading aircraft 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 numerous measures to ensure that it can both weather the storm and emerge stronger from this crisis, including strengthening of the team, improving focus on customer needs and satisfaction, improving operational efficiency and making strategic investments, including acquisitions such as Bombardier EWIS and TAC.
Retaining and attracting new talent will be key to achieving this ambitious plan and maintaining this positive momentum. Consequently, the Latécoère Board of Directors has decided to propose to the Company’s shareholders the establishment of a stock incentive plan for the benefit of the Company’s employees and corporate officers. This will help foster long-term relationships and align the interests of shareholders and management.
In order to increase the attractiveness of the company and to fully align the managers with the interests of the shareholders, a broader group of Group employees would also benefit from a dedicated plan for the free allocation of ordinary shares of the Company. .
The financial delegations necessary for the implementation of this incentive plan will be submitted to the vote of the General Meeting of the Company which will be convened on March 22, 2022. All the documentation relating to this General Meeting will be made available on the company’s website within the legal deadlines.
Pierre Gadonneix, Chairman of the Board of Latécoèrenoted: “Latécoère intends to complement its strong management team led by Thierry Mootz and to develop incentives for current and future managers of the Group. The proposed incentive plan, combined with an ongoing recruitment campaign, will ensure the Group’s preparation for the rebound in the sector and to seize opportunities for external growth.”
A benchmark partner of major global aircraft manufacturers serving the aerospace industry with innovative solutions for a sustainable world, Latécoère is present in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:
- Aerostructures (46% of sales): fuselage sections and doors,
- Interconnection Systems (54% of sales): cabling, electrical furniture and on-board equipment.
As of December 31, 2020, the Group employed 4,764 people in 14 different countries. Latécoère, a public limited company with capital of 132,745,925 euros divided into 530,983,700 shares with a nominal value of 0.25 euros, is listed on Euronext Paris – Compartment B, ISIN codes: FR0000032278 – Reuters: LAEP.PA – Bloomberg: LAT. PF.