Investor Presentaiton
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Key terms of the rights issue (2/2)
45
445
Subscription
commitments
Intentions to
subscribe
1.
1 2 3
3.
AIRFRANCE KLM
GROUP
•
CMA CGM has committed to subscribe to a maximum of 9% of the ex-post share capital and in the limit of a €400m investment
(incl. purchase of the rights)
Delta Air Lines and China Eastern Airlines have both committed to subscribing to c. €42m and c. €69m respectively to perform
their cash-neutral transactions, thanks to the proceeds of the sale of part of their rights to CMA CGM
Total subscription amounts to c. €360m i.e., c. 16% of the deal, the remaining part being fully underwritten by the banks
•
The French State has announced its intention to participate in the rights issue such that its shareholding remains unchanged post
the Rights Issue, through the offset of the Deeply-Subordinated Notes issued in April 2021.
• The Dutch State has announced its intention to participate in the rights issue such that its shareholding remains unchanged post
the Rights Issue, subject to Dutch Parliament approval
Lock-up
•
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Total of intentions could amount to up to €856m i.e., 38% of the deal
180 days for Air France-KLM'
90 days for shareholders (French State, Dutch State, Delta Air Lines, China Eastern Airlines)²
6 years for CMA CGM: 100% for the first 3 years and 50% for the remaining 3 years³
Subject to conditions as per prospectus
Subject to customary conditions
CMA CGM is further subject to a 10-year standstill agreementView entire presentation