Thank you for standing by. This is the Conference Operator. Welcome to the FLYHT Aerospace Solutions Limited Annual and Special Meeting of Shareholders' Conference Call. As a reminder, all participants are in listen-only mode. And to submit a question for discussion of any motion, please press star one on your telephone keypad when questions are called for. You will hear a tone acknowledging your request. During the meeting, there will be an opportunity for registered shareholders and duly appointed proxy holders who pre-registered, as outlined in the Management Information Circular, to speak to the individual items of business. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would now like to turn the conference over to Kent Jacobs, President and Interim CEO of FLYHT Aerospace Solutions Limited. Please go ahead, Mr. Jacobs. Good morning, ladies and gentlemen, and welcome to the Annual and Special Meeting of FLYHT Shareholders. My name is Kent Jacobs, and I am the President and Interim CEO of FLYHT, and I will be acting as Chairman for today's meeting. Before we begin the formal business of the meeting, I would like to thank you all for joining us today. The Management Information Circular provided instructions for registered shareholders and proxy holders to pre-register for the meeting in order to participate fully. If there is any registered shareholder or proxy holder who did not pre-register and wishes to cast their vote or ask questions during the meeting, they should signal for assistance by pressing star then zero. Tell the operator that you wish to speak to the scrutineer. Our operator will advise us of this, and we will pause the meeting for a few moments while you and the scrutineer are moved into a private call. Once again, that's registered shareholders or proxy holders only who did not pre-register but would like to participate fully in the meeting and/or cast their vote. Please press star then zero. In order to cover the required business in an efficient manner, we have pre-arranged with certain shareholders to move and second motions of business. This is in no way intended to discourage comments from the floor. On the contrary, should any registered shareholder or proxy holder who pre-registered, as outlined in the notice of meeting, wish to speak on any matter, they are encouraged to do so when there is an opportunity to join the question queue as each item of business is presented. Please note, following the formal meeting, I will provide a brief update on some of the company's recent progress. Galen, has anyone signaled with star zero? No, Mr. Chairman. No one has signaled for assistance. Great. Thank you. This meeting will now come to order, and with your approval, I shall ask Alana Forbes to act as Secretary for purposes of recording the minutes of the meeting. The first item of business will be the appointment of scrutineers. With the consent of the meeting, I shall ask Bart Wingeruk of Odyssey to act as scrutineer. Odyssey has indicated that shareholders of record at the close of business on 15/05/ 2024, were mailed the notice calling this meeting together with the accompanying meeting documents on 29/05/ 2024. Accordingly, with the consent of the meeting, I would propose dispense with the reading of the notice, and I direct a copy of the notice and proof of service to be kept by the Secretary with the records of this meeting. I note that a quorum of shareholders is present at the meeting irrespective of the number of persons actually present if two shareholders or duly appointed proxy holders are present. I have received the preliminary scrutineer's report indicating that a quorum is present. It shows that there are 40 shareholders present or represented by proxy, representing 11,480,635 common shares, being 29.44% of the total issued capital. There were no eligible pre-registrants for the meeting who have not already cast their vote, and as such, all voting was conducted in advance of this meeting. As we proceed through the business of this meeting, we will announce the results of the advance voting. The notice and quorum requirements having been met, I now declare that the meeting is regularly called and properly constituted for the transaction of business. The first item of business is to receive and consider the financial statements for the year ended 31/12/ 2023, together with the auditor's report thereon. With the consent of the meeting and reading of such financial statements and auditor's reports, we'll be dispensed with. Copies of the financial statements and the auditor's report thereon have been made accessible to each registered shareholder who has had an opportunity to review them and no action is requested. The next item of business is to fix the number of directors of the corporation to be elected at this meeting to hold office until the close of the next annual meeting of the FLYHT shareholders. I will now ask for someone to move and someone to second the motion in this regard. My name is Alana Forbes, and I move that the number of directors to be elected at the meeting to hold office until the close of the next annual meeting of the FLYHT shareholders be fixed at seven directors. My name is Flint Walters, and I second the motion. The motion is now open for discussion. To submit a question for discussion regarding this motion, please press star one on your telephone keypad now. You will hear a tone acknowledging your request. We will pause a few moments while we wait for any questions on this motion. Based on the preliminary scrutineer's report, which consists of proxy votes and those votes cast online during the pre-registration process, I declare the motion carried. The next item of business is the election of directors to hold office until close of the next annual meeting of the FLYHT shareholders. I will now ask for someone to move and someone to second the motion in this regard. My name is Alana Forbes, and in accordance with the bylaws of the corporation and as detailed in the information circular, I nominate Brent Rosenthal, Douglas G. Marlin, Mary McMillan, Nancy Young, Paul Takalo, Peter Leitch, and Lorne Sugarman to be elected as directors of the corporation to hold office until the close of the next annual meeting of the FLYHT shareholders or until their successors are duly elected or appointed. My name is Flint Walters, and I second the motion. The motion is now open for discussion. To submit a question for discussion regarding this motion, please press star one on your telephone keypad now. You will hear a tone acknowledging your request. We will pause a few moments while we wait for any questions on this motion. Based on the preliminary scrutineer's report, which consists of proxy votes and those votes cast online during the pre-registration process, I declare the motion carried. The next item of business is the appointment of auditors for the current year. I will now ask for someone to move and someone to second the motion in this regard. My name is Alana Forbes, and I move that KPMG LLP Chartered Accountants be hereby appointed as auditors of the corporation to hold office until the close of the next annual meeting or until a successor is appointed, and that the directors are hereby authorized to fix their remuneration. My name is Flint Walters, and I second the motion. The motion is now open for discussion. To submit a question for discussion regarding this motion, please press star 1 on your telephone keypad now. You will hear a tone acknowledging your request. We will pause a few moments while we wait for any questions on this motion. Based on the preliminary scrutineer's report, which consists of proxy votes and those votes cast online during the pre-registration process, I declare the motion carried. The next item of business to be conducted today is to consider and, if thought advisable, to pass an ordinary resolution to adopt and approve the Omnibus Equity Incentive Compensation Plan of FLYHT. The ordinary resolution approving the plan can be found on page 10 of the information circular. With the consent of the meeting, I propose to dispense with the reading of the resolution in its entirety and proceed with approving by way of ordinary resolution of the shareholders the Omnibus Equity Incentive Compensation Plan, all as provided for in the information circular. I will now ask for someone to move and someone to second such ordinary resolution. My name is Alana Forbes, and I move that the Omnibus Equity Incentive Compensation Plan, as described in the information circular, be approved as the Omnibus Equity Incentive Compensation Plan of the corporation. My name is Flint Walters, and I second the motion. The motion is now open for discussion. To submit a question for discussion regarding this motion, please press star one on your telephone keypad now. You will hear a tone acknowledging your request. We will pause a few moments while we wait for any questions on this motion. Based on the preliminary scrutineer's report, which consists of proxy votes and those votes cast online during the pre-registration process, I declare the motion carried. As there is no further formal business to be brought before the meeting, I would now ask for someone to move and second the termination of the meeting. My name is Alana Forbes, and I move that the formal part of the meeting be terminated. My name is Flint Walters, and I second the motion. You have heard the motion, and if there is no further discussion, I declare the meeting terminated. The next portion of the meeting involves a brief update from Kent Jacobs, President and Interim CEO. An archived version of today's call will be posted on the investor relations section of FLYHT's website, FLYHT.com, as soon as it is available from the conference call provider. Before the brief update, we would like to remind everyone that certain statements made today may constitute forward-looking statements, and these statements reflect FLYHT's present expectations. Many factors could cause actual results to differ materially from the company's expectations. With that, I would now like to turn the call back over to Kent Jacobs. Thank you, Galen. It has only been three short weeks since we last provided an update, but during that time, our teams remain incredibly busy, and we are laser-focused on executing on our key strategic edge and weather initiatives. This seems a good opportunity for me to update quickly on some of the key work that is being completed at this time. We recently received our STC certification of the AFIRS Edge, the flanged version, for the Boeing 737 NG aircraft. This is the second STC approval for the flanged version this year. We are now in a leadership position to provide the aviation industry's first wireless data and communication device with 5G capability on the two most popular aircraft types, the Airbus A320 and the Boeing 737. FLYHT can now ship the Edge units to Canadian Boeing 737 NG customers while, at the same time, begin familiarizing the Canadian STC into other jurisdictions to enable worldwide distribution. This process will follow a similar strategy to that of the A320, where we are currently familiarizing the Edge through the EASA into Europe. Air North, our STC partner for the 737 NG, will be flying the AFIRS Edge as soon as their aircraft has completed its heavy maintenance check. At that time, we will be fully operational on the two aircraft types that we plan to first target. That's the Airbus A320 and the Boeing 737. We're also wrapping up the environmental DO-160 testing on the Edge Plus. The environmental testing on the AFIRS Edge Plus was started a couple of weeks ago and is scheduled to be completed next week. Upon completion of the testing, the required reports will be compiled and released. This testing process forms part of the formal certification of the Edge Plus and will let us proceed with our initial STCs for the Edge 4MCU version. Production of the FLYHT WVSS2 sensors is on schedule, and we are in the process of building our first qual-ready units now. These units will be used for environmental, that is, the DO-160 testing. The entire effort to refresh the design of the sensor is now complete, and we are excited to be building these first units. We expect the installation of the sensors on Loganair's Embraer 145 fleet, which is in partnership with UK Met, to commence in Q4 of 2024. At this time, I would like to welcome Lorne Sugarman to the FLYHT Board of Directors and to extend a heartfelt thank you to Mike Brown for serving on FLYHT's board and governance committee for several years. I'm looking forward to working closely with our just-elected board member, Lorne Sugarman. Lorne is a seasoned senior technology executive with diverse experience in investment banking and principal investing. I know he will be a valuable addition to our board and to our company. Mike Brown has provided his experience and unwavering commitment to FLYHT over the many years he has been part of our organization. I'm deeply grateful for the guidance he has provided to our team going back to 2003 when he first joined our board. A quick reminder that FLYHT board member Nancy Young will participate in a fireside chat at the Jefferies Virtual Aerospace ESG Summit this Thursday, June 20th, beginning at 8:55 A.M. Mountain Time. So that's 10:55 A.M. Eastern Time. The webcast replay will be available on FLYHT's website in case you can't catch the live discussion. Finally, I would like to draw attention to our committed staff for their continued hard work and dedication to the products we build and deliver. It is through their expertise and their continued efforts that we continue to provide industry-first solutions to the aviation industry. I would like to thank our customers for their continued trust in the services and value that we provide them. I would like to thank all of our loyal shareholders for your continued support. Galen, turning the call back to you. Thank you. This concludes today's conference call. You may disconnect your lines. Thank you for participating and have a pleasant day.
Loading workspace