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SAFRAN (EPA:SAF) - Safran's 2019 Annual General Meeting

Directive transparence : information réglementée Autres communiqués

23/05/2019 17:18

PRESS RELEASE

Safran's 2019 Annual General Meeting of Shareholders approves a dividend
payment of EUR1.82 per share

The Board of Directors re-appoints Ross McInnes as Chairman

Paris, May 23, 2019

The combined Annual General Meeting of Shareholders of Safran (Euronext Paris:
SAF) met today at the Grande Arche, Paris - La Défense, under the chairmanship
of Ross McInnes, Chairman of the Board of Safran.

The meeting provided a unique opportunity for the Group for information,
exchange and discussion in the company of shareholders. Philippe Petitcolin,
Chief Executive Officer, and Bernard Delpit, Chief Financial Officer, reviewed
Safran's activity and the 2018 full year results, the outlook for 2019-2022, as
well as Safran's first integrated report. Ross McInnes, Chairman of the Board
and Monique Cohen, Chair of the Appointments and Compensation Committee
presented subjects relating to corporate governance and corporate officers'
compensation.

On the same day, the Board of Directors decided to renew Ross McInnes as
Chairman of the Board, for the same duration as his term of office as a
Director, i.e., until the close of the Annual General Meeting to be held to
approve the financial statements for the year ending December 31, 2022.

Voting results

Resolutions submitted for a vote by the Annual General Meeting were approved
notably financial authorizations allowing Safran to seize, if appropriate,
opportunities arising on financial markets but excluding those which could be
used during a public offer.

Therefore, shareholders also approved:

* the financial statements for the fiscal year 2018 and voted for the payment
  of a dividend of 1.82 euro per share, to be paid as of May 29, 2019;
* the re-appointments as Directors of Ross McInnes, Philippe Petitcolin,
  Jean-Lou Chameau, Vincent Imbert and the appointment of Laurent Guillot;
* components of the 2018 compensation to the executive corporate officers as
  well as compensation policies applicable to them;
* a new authorization allowing Safran to repurchase its own shares with a price
  not to exceed EUR 155 per share;
* an amendment of the Company's bylaws in order to further detail the procedure
  for nominating candidates for appointment as directors representing employee
  shareholders;

By decision of the Board, Laurent Guillot, new independent Director, joins the
Audit and Risk Committee. Moreover, Hélène Dantoine, representing the French
State, replaces Vincent Imbert as member of the Audit and Risk Committee and of
the Appointments and Compensation Committee.

The independence rate of the Board of Directors, still composed of 17
directors, is increased to 61.5%(1).

The results of the vote will be published in the Finance section of the Group's
website, www.safran-group.com.

Financial calendar

Ex-dividend date                         May 27, 2019
Dividend payment                         as from May 29, 2019
2019 half-year results announcement      September 5, 2019

Safran is an international high-technology group, operating in the aircraft
propulsion and equipment, space and defense markets. Safran has a global
presence, with more than 92,000 employees and sales of 21 billion euros in
2018. Working alone or in partnership, Safran holds world or European
leadership positions in its core markets. Safran undertakes Research &
Development programs to meet fast-changing market requirements, with total R&D
expenditures of around 1.5 billion euros in 2018.

Safran is listed on the Euronext Paris stock exchange, and is part of the
CAC 40 and Euro Stoxx 50 indices.

For more information: www.safran-group.com / Follow @Safran on Twitter

Press
Catherine MALEK : catherine.malek@safrangroup.com / T +33 (0)1 40 60 80 28

Investors Relations
Cécilia MATISSART : cecilia.matissart@safrangroup.com / T +33 (0)1 40 60 82 46
Frédéric LUCAND : frederic.lucand@safrangroup.com / T +33 (0)1 40 60 82 19
Jean-François JUERY : jean-françois.juery@safrangroup.com /
T + 33 (0) 1 40 60 27 26

(1) Directors representing employee shareholders and Directors representing
employees are not taken into account when calculating this percentage, in
accordance with the Afep-Medef Corporate Governance Code.