(Tiper Stock Exchange) – Air France-KLM announces a reverse stock split and the simultaneous reduction of the capital by reducing the nominal value of each share, as decided by the BoD on 4 July and approved by the extraordinary shareholders’ meeting on 7 June 2023.
The operation takes place in exchange of 10 ordinary shares with a nominal value of 1 euro each, with 1 new share with a par value of 1 euro, equal to a reduction of 9 euro per share which will be charged to the “share premium” reserve. The share capital of the Company is therefore equal to 257,053,613 euros divided into 257,053,613 shares (ISIN code FR001400J770) with a par value of 1 euro each.
Following the reverse stock split, the conversion ratio of two sets of convertible bonds also changes issued by the company: the subordinated bonds convertible into new shares issued for a nominal amount of 305.3 million euros through placement with qualified investors on November 16, 2022 (“OC Hybrids”) and the bonds convertible into new shares (OCEANE) issued for an amount of 500 million euros in March 2019 and maturing in 2026 (“Oceanes 2026”): the new conversion ratio will therefore be equal to 6,549.6463 new shares for OC Hybride and 0.178 new shares for Océane 2026.