Technicolor Creative Studios: Combined General Shareholders’ Meeting held on May 15, 2023
16 May 2023 - 4:15AM
Technicolor Creative Studios: Combined General Shareholders’
Meeting held on May 15, 2023
PRESS RELEASE
Technicolor Creative
StudiosCombined 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.
www.technicolorcreative.com
***Investor Relations
Contact:investor.relations@technicolor.com
Corporate press:Image 7:
Technicolorcreative@image7.fr
- PR_Combined General Shareholders’ Meeting held on May 15,
2023_ENG
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