Technicolor Creative Studios: Combined General Shareholders’ Meeting held on May 15, 2023
Technicolor Creative Studios
Combined General Shareholders’ Meeting held on May 15, 2023
Paris (France), May 15, 2023 - Technicolor Creative Studios (Euronext Paris: TCHCS) (the "Company") announces that the Combined General Shareholders’ Meeting (the “Meeting”), chaired by Ms. Anne Bouverot, Chairperson of the Board of Directors, was held today at 2pm at the Urban Station-Espace du Centenaire, 189 rue de Bercy, 75012 Paris.
The company's shareholders have been strongly mobilized for this Meeting, which gathered a quorum of 81.72 %.
The 30 resolutions proposed by the Board of Directors were all approved by a very large majority.
This Meeting thus marks the completion of a decisive step in the implementation of the Company's refinancing, the terms of which are detailed in the press releases of March 8, and April 3, 2023. The Board of Directors of the Company, which met at the close of this Meeting, sincerely thanks all shareholders for their support.
In particular, the Meeting has:
- Approved the statutory and consolidated financial statements for the fiscal year 2022, as well as the proposed allocation of the net result;
- Approved the statutory auditors' special report on related-party agreements;
- Approved the compensation policies for the Directors, the Chairperson of the Board of Directors and the Chief Executive Officer, as well as the components of their compensation paid or awarded for fiscal year 2022;
- Issued a favorable opinion on the establishment of a fiducie-sûreté on the shares of Tech 6;
- Decided on the continuation of the Company's activity pursuant to Article L.225-248 of the French Commercial Code;
- Approved a first reduction of the Company's share capital through decrease of the shares’ par value from 0.50 euro to 0.01 euro;
- Approved a delegation of authority to the Board of Directors to proceed with a share capital increase in cash by issuance of ordinary shares reserved for a category of beneficiaries, with waiver of the shareholders’ preferential subscription rights;
- Approved a delegation of authority to the Board of Directors to proceed with the issuance of notes convertible into ordinary shares of the Company with waiver of the shareholders’ preferential subscription rights in favour of (i) beneficiaries affiliated with Angelo, Gordon & Co, L.P., (ii) of Bpifrance Participations S.A., (iii) of Barclays Bank Ireland PLC, (iv) beneficiaries affiliated with Briarwood Chase Management LLC, and (v) of Vantiva S.A;
- Approved a delegation of authority to the Board of Directors to proceed with the issuance and allocation of warrants, free of charge and reserved for a category of beneficiaries, with waiver of the shareholders’ preferential subscription rights;
- Approved the reverse share split of the Company's shares by allocation of one (1) new share with a par value of €1.00 for one hundred (100) existing shares with a par value of €0.01 each;
- Approved a second reduction of the Company's share capital through decrease of the shares’ par value from 1 euro to 0.01 euro;
- Approved an amendment to the Company's bylaws allowing the Board of Directors to appoint a maximum of 3 observers.
In addition, 1 shareholder submitted written questions before the Meeting. The answers were made public before the Meeting on the Company's website https://www.technicolorcreative.com/investor-center/shareholders-meetings/meetings.
The detailed quorum and voting results are available on the Company's website. The full audio broadcast of the Meeting is also available on the same website https://www.technicolorcreative.com/investor-center/shareholders-meetings/meetings.
The Company has also strengthened its governance by changing the composition of the Board of Directors. On May 12, 2023, the Board of Directors (i) co-opted Mr Andrew Fowler as director and appointed (ii) Mr. Hadi El Mir as observer representing Sculptor. The Board of Directors, which met after the Meeting, appointed Mrs. Cécile Davies as observer representing Pimco.
ABOUT TECHNICOLOR CREATIVE STUDIOS
Technicolor Creative Studios shares are admitted to trading on the regulated market of Euronext Paris (TCHCS)
Technicolor Creative Studios is a creative technology company providing world-class production expertise driven by one purpose: The realization of ambitious and extraordinary ideas. Home to a network of award-winning studios, MPC, The Mill, Mikros Animation and Technicolor Games, we inspire creative companies across the world to produce their most iconic work.
Our global teams of artists and technologists partner with the creative community across film, television, animation, gaming, brand experience and advertising to bring the universal art of storytelling to audiences everywhere.
Investor Relations Contact:
Image 7: Technicolorcreative@image7.fr
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