Bombardier Announces June 13, 2022 as the Effective Date of Share Consolidation
Bombardier announced a Share Consolidation of its Class A and Class B shares at a 1:25 ratio, effective June 13, 2022. This action will reduce the number of outstanding shares from approximately 308 million Class A shares and 2.134 billion Class B shares to around 12.3 million Class A shares and 85.4 million Class B shares. Following the consolidation, shares will continue to trade on the TSX under the symbols BBD.A and BBD.B. Registered shareholders will receive a letter of transmittal for the share exchange, while non-registered shareholders should check with their intermediaries.
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MONTRÉAL, June 09, 2022 (GLOBE NEWSWIRE) -- Bombardier Inc. (TSX: BBD.B) (“Bombardier” or the “Corporation”) confirmed today that the previously announced consolidation of the Corporation’s issued and unissued Class A shares (multiple voting) (the “Class A shares”) and Class B shares (subordinate voting) (the “Class B shares”) at a ratio of one (1) post-consolidation share for every twenty-five (25) pre-consolidation Class A shares or Class B shares (the “Share Consolidation”) is being implemented and will be effective on June 13, 2022 (the “Effective Date”).
As such, the Corporation’s Class A shares and Class B shares are expected to begin trading on the TSX, on a consolidated basis, on or about the Effective Date. As previously announced, the Class A shares and Class B shares will continue to be listed on the TSX under the symbols “BBD.A” and “BBD.B”, respectively, although the post-consolidation Class A shares and Class B shares will be considered a substituted listing with new CUSIP and ISIN numbers.
The Share Consolidation will reduce the number of issued and outstanding Class A shares and Class B shares of the Corporation from approximately 308,734,229 Class A shares and 2,134,347,470 Class B shares to approximately 12,349,369 Class A shares and 85,373,898 Class B shares.
Further details on the Share Consolidation are contained in Bombardier’s 2022 Management Proxy Circular available on SEDAR and on Bombardier’s website.
Computershare Investor Services Inc., the transfer agent of the Corporation, will act as the exchange agent for the Share Consolidation. The Corporation’s registered shareholders will receive a letter of transmittal from the exchange agent in respect of the Share Consolidation, which each registered shareholder will need to sign and complete. If a registered shareholder does not receive a letter of transmittal in connection with its Class A shares or Class B shares, as the case may be, copies of the letters of transmittal will be available on SEDAR and on Bombardier’s website. The letter of transmittal will contain instructions on how to surrender the certificate(s) representing the registered shareholder’s Class A shares and/or Class B shares, as the case may be.
Non-registered shareholders who hold their Class A shares and/or Class B shares through an intermediary such as a bank, trust company, securities dealer or broker should note that these intermediaries may have their own procedures for processing the Share Consolidation which may differ from those described above for registered shareholders. Non-registered shareholders who have questions should contact their intermediary for more information.
FORWARD-LOOKING STATEMENTS
| Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements. |
About Bombardier
Bombardier is a global leader in aviation, focused on designing, manufacturing and servicing the world's most exceptional business jets. Bombardier’s Challenger and Global aircraft families are renowned for their cutting-edge innovation, cabin design, performance and reliability. Bombardier has a worldwide fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. Bombardier aircraft are also trusted around the world in special-mission roles.
Headquartered in Montréal, Québec, Bombardier operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. The company’s robust customer support network includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Italy, Austria, the UAE, Singapore, China and an Australian facility opening in 2022.
For corporate news and information, including Bombardier’s Environmental, Social and Governance report, visit bombardier.com. Learn more about Bombardier’s industry-leading products and customer service network at businessaircraft.bombardier.com. Follow us on Twitter @Bombardier.
Bombardier, Challenger and Global are trademarks of Bombardier Inc. or its subsidiaries.
For Information
| Francis Richer de La Flèche Vice President, Financial Planning and Investor Relations Bombardier +1 514 240 9649 | Mark Masluch Senior Director, Communications Bombardier +1 514 855 7167 |
FAQ
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