Flyht Aerospace sends management information circular for special meeting

FLYHT Aerospace (FLYLF) Solutionshas sent, to all registered FLYHT shareholders, the management information circular and related materials for the special meeting of FLYHT shareholders to be held at 9:00 a.m. on December 16, 2024 to approve the previously announced plan of arrangement under the Canada Business Corporations Act, pursuant to which Firan Technology Group Corporation will, if the Arrangement becomes effective, acquire all of the issued and outstanding common shares of FLYHT in a cash and share transaction valued at approximately C$13.2 million, all as more particularly described in the Circular and FLYHT’s news release dated October 21, 2024. FLYHT is aware that, as a result of the national strike commenced by the Canadian Union of Postal Workers on November 15, 2024, Canada Post’s operations have shut down. In order to facilitate the delivery of the Circular and related materials for the Meeting to non-registered Company Shareholders in the event that the Strike, lockout or similar or related events prevent, delay or otherwise interrupt delivery of Circular and related materials for the Meeting to non-registered Company Shareholders in Canada in the ordinary course by the applicable intermediaries, FLYHT will deliver, by email, a copy of the Circular and related materials for the Meeting to each registered or non-registered Company Shareholder who requests. Non-registered Company Shareholders are also encouraged to contact the proxy department at their broker or other intermediary who can assist them with the voting process. Under the Arrangement, FLYHT shareholders may elect to receive, for each Common Share held CAD$0.1103 in cash and 0.0333 common shares of FTG, CAD$0.3379 in cash, or 0.0495 FTG Shares, in each case subject to pro-ration. The Consideration will be subject to maximum aggregate cash consideration of CAD$4.3 million and 1,300,000 FTG Shares. Shareholders who do not make an election will be deemed to have elected to receive a combination of cash and FTG Shares for their Common Shares. The Meeting is scheduled to be held virtually on December 16, 2024 at 9:00 a.m. via virtual audio teleconference call. Company Shareholders of record as of the close of business on November 6, 2024 are entitled to receive notice and vote at the Meeting. The board of directors of FLYHT, after evaluating the Arrangement with management and FLYHT’s advisors, including receipt of a fairness opinion from KSV Advisory Inc., has unanimously determined the Arrangement is in the best interests of FLYHT and is fair to Company Shareholders and unanimously recommends that Company Shareholders vote FOR the Arrangement.