Item 1: Amend Articles of Association
The Company holds a General Meeting immediately after the conclusion of the AGM to approve an increase of the Companyns borrowing limits and refreshes the related language that is currently set out in the Articles of Association.
The proposed maximum of £12bn currently corresponds to 2 times the Rolls Royce market capitalisation. With the last year FCF level, it would take 13 years to reimburse it. As a reminder, since 2018 Rolls Royce has reported losses (£3.7bn in total) which switched the shareholder equity to negative. At the end of FY2019, it stood at -£3.34bn.
Rolls Royce Holdings is an engineering company. Co. is organised into five businesses: civil aerospace, which develops, manufactures, markets and sells commercial aero engines and aftermarket services; defense aerospace, which develops, manufactures, markets and sells military aero engines and aftermarket services; power systems, which develops, manufactures, markets and sells reciprocating engines and power systems; marine, which is develops, manufactures, markets and sells marine-power propulsion systems and aftermarket services; and nuclear, which develops, manufactures, markets and sells nuclear systems for civil power generation and naval propulsion systems.
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