Bombardier Inc. confirmed today 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.