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December 5, 2012
12:11 EDTEADSYEADS says company, core holders agree on overhaul of governance, ownership
The EADS Board of Directors and the company’s core shareholders have agreed on a far-reaching change of the company’s shareholding structure and governance. This agreement aims at normalizing and simplifying the governance of EADS while securing a shareholding structure that allows France, Germany and Spain to protect their legitimate strategic interests. Subject to the vote of the Extraordinary General Meeting of the shareholders of EADS, the present shareholder pact, called “Participation Agreement”, in place since the company’s foundation in 2000, will be terminated and replaced by a new, limited arrangement between the French, German and Spanish Governments. France, Germany and Spain have agreed on a capped government shareholding, with Germany and France intending to ultimately hold up to 12% each and Spain circa 4%. The three states will have reciprocal pre-emption rights. The amended Articles of Association of EADS will contain an ownership and voting restriction from crossing the 15% threshold by shareholder individually or collectively. Certain specific French and German national security interests will be protected through the creation of “national defense companies” holding sensitive military assets, and including the rights of France and Germany to consent to three outside directors to the board of their respective “national defence companies”. Under the new governance scheme, no veto right will be given to any group of Directors in the Board or to any shareholder at the Shareholders’ Meeting.
News For EADSY From The Last 14 Days
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March 30, 2015
12:28 EDTEADSYLockheed Martin wins South Korean fighter jet contract, Reuters says
South Korea has selected Lockheed Martin (LMT) to develop a mid-level fighter jet in partnership with Korea Aerospace Industries for $7.9B, reports Reuters, citing statements from the Defense Acquisition Program Administration. The two companies beat out a bid from Korean Air Lines and Airbus (EADSY), notes Reuters. Reference Link
March 25, 2015
13:48 EDTEADSYAirbus to sell 17.5% stake in Dassault Aviation
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06:46 EDTEADSYAirbus to sell 15% stake in Dassault Aviation, Reuters reports
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March 24, 2015
06:59 EDTEADSYAirbus plane crashes in southern France, Bloomberg reports
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06:45 EDTEADSYAirbus plane crashes in Southern France, AFP reports
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06:28 EDTEADSYAirbus says RwandAir signs MOU for two A330 aircraft
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March 23, 2015
10:47 EDTEADSYAirbus agrees to sell Rostock System to Ferchau Engineering, Reuters reports
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March 18, 2015
14:10 EDTEADSYBoeing, Airbus stepping pressure on supllier over seat delays, Reuters says
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