FLYHT Announces Shareholder Approval of its Acquisition by Firan Technology Group Corporation
FLYHT Aerospace Solutions shareholders have overwhelmingly approved the company's acquisition by Firan Technology Group (FTG). At the special meeting held on December 16, 2024, shareholders voted 97.867% in favor of the arrangement, with 16,513,039 votes supporting the acquisition and only 359,982 votes against it. The transaction, which was previously announced on October 21, 2024, requires a final order from the Court of King's Bench of Alberta and satisfaction of other closing conditions. The arrangement is expected to close around December 20, 2024.
I azionisti di FLYHT Aerospace Solutions hanno approvato con ampia maggioranza l'acquisizione dell'azienda da parte di Firan Technology Group (FTG). Nella riunione straordinaria tenutasi il 16 dicembre 2024, gli azionisti hanno votato 97,867% a favore dell'accordo, con 16.513.039 voti a sostegno dell'acquisizione e solo 359.982 voti contrari. La transazione, precedentemente annunciata il 21 ottobre 2024, richiede un ordine finale dal Tribunale della Corte dei Re d'Alberta e la soddisfazione di altre condizioni di chiusura. Si prevede che l'accordo si chiuda intorno al 20 dicembre 2024.
Los accionistas de FLYHT Aerospace Solutions han aprobado abrumadoramente la adquisición de la empresa por parte de Firan Technology Group (FTG). En la reunión especial celebrada el 16 de diciembre de 2024, los accionistas votaron 97,867% a favor del acuerdo, con 16,513,039 votos a favor de la adquisición y solo 359,982 votos en contra. La transacción, anunciada previamente el 21 de octubre de 2024, requiere una orden final del Tribunal de la Corte del Rey de Alberta y el cumplimiento de otras condiciones de cierre. Se espera que el acuerdo se cierre alrededor del 20 de diciembre de 2024.
FLYHT 항공우주 솔루션의 주주들은 Firan Technology Group (FTG)에 의한 회사 인수를 압도적으로 승인했습니다. 2024년 12월 16일 개최된 특별 회의에서 주주들은 인수에 대해 97.867% 찬성표를 던졌고, 16,513,039표가 인수에 찬성했으며 단 359,982표가 반대했습니다. 이 거래는 2024년 10월 21일에 이전에 발표되었으며, 앨버타의 왕의 법원에서 최종 명령이 필요하고 기타 마감 조건을 충족해야 합니다. 이 계약은 2024년 12월 20일경에 마감될 것으로 예상됩니다.
Les actionnaires de FLYHT Aerospace Solutions ont massivement approuvé l'acquisition de la société par Firan Technology Group (FTG). Lors de la réunion extraordinaire tenue le 16 décembre 2024, les actionnaires ont voté à 97,867 % en faveur de l'accord, avec 16 513 039 voix en faveur de l'acquisition et seulement 359 982 voix contre. La transaction, annoncée précédemment le 21 octobre 2024, nécessite un ordre final de la Cour du Roi de l'Alberta et la satisfaction d'autres conditions de fermeture. L'arrangement devrait être finalisé autour du 20 décembre 2024.
Die Aktionäre von FLYHT Aerospace Solutions haben die Übernahme des Unternehmens durch Firan Technology Group (FTG) überwältigend genehmigt. In der am 16. Dezember 2024 abgehaltenen außerordentlichen Sitzung stimmten die Aktionäre mit 97,867 % für den Antrag, wobei 16.513.039 Stimmen die Übernahme unterstützten und nur 359.982 Stimmen dagegen waren. Die Transaktion, die zuvor am 21. Oktober 2024 angekündigt wurde, erfordert einen endgültigen Beschluss des Obergerichts von Alberta und die Erfüllung weiterer Abschlussbedingungen. Die Vereinbarung wird voraussichtlich um den 20. Dezember 2024 abgeschlossen.
- Overwhelming shareholder approval with 97.867% votes in favor
- Clear path to completion with expected closing date of December 20, 2024
- None.
CALGARY, AB / ACCESSWIRE / December 16, 2024 / FLYHT Aerospace Solutions Ltd. ("FLYHT" or the "Company") (TSXV:FLY)(OTCQX:FLYLF) is pleased to announce that holders (the "Company Shareholders") of its common shares (the "Common Shares") have voted in favour of the previously announced acquisition of FLYHT by Firan Technology Group Corporation (TSX:FTG)(OTCQX:FTGFF) ("FTG") by way of plan of arrangement under the Canada Business Corporations Act (the "Arrangement") at FLYHT's special meeting of shareholders (the "Meeting") held on December 16, 2024.The completion of the Arrangement required the approval of at least two‐thirds of the votes cast at the Meeting in person or by proxy by Company Shareholders.
The voting results from the Meeting are as follows:
| Votes FOR | % | Votes AGAINST | % |
Holders of Common Shares | 16,513,039 | 359,982 |
Subject to receipt of a final order in respect of the Arrangement from the Court of King's Bench of Alberta and satisfaction or waiver of the other conditions to closing contained in the arrangement agreement between FLYHT and FTG dated October 21, 2024, the Arrangement is expected to close on or about December 20, 2024.
About FLYHT Aerospace Solutions Ltd.
FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, and delivers industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by a suite of patented aircraft certified hardware products, AFIRS™. Solutions include an aircraft satcom/interface device that enables cockpit voice communications, the transmission of aircraft data both inflight via satellite and post-flight via 5G, real-time aircraft state and fleet status analysis, and preventative maintenance solutions. FLYHT's hardware products can also be interfaced with FLYHT's proprietary relative humidity sensors to deliver airborne weather and humidity data in real-time. FLYHT is headquartered in Calgary, Canada, and is an AS9100 Quality registered company. For more information, visit www.flyht.com.
About Firan Technology Group Corporation
FTG is an aerospace and defence electronics product and subsystem supplier to customers around the globe. FTG has two operating units:
FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defence, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts and a joint venture in Tianjin, China.
FTG Aerospace manufactures and repairs illuminated cockpit panels, keyboards and electronic assemblies for original equipment manufacturers of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, and Tianjin, China.
FTG's common shares are traded on the Toronto Stock Exchange under the symbol FTG.
Cautionary Note Regarding Forward-Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although FLYHT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. FLYHT cannot guarantee future results, performance, or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are founded on the basis of expectations, assumptions and hypotheses made by the Company, including, but not limited to projected revenues. Such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include but are not limited to global economic conditions; industry conditions, and supply chain delays. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. FLYHT undertakes no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Contact Information:
FLYHT Aerospace Solutions Ltd. | FNK IR LLC |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: FLYHT Aerospace Solutions Ltd.
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FAQ
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