AI Airports International Limited
EANS-News: AI Airports International Limited
Annual General Meeting approves
all resolutions by an overwhelming majority
St Helier, Jersey, Channel Islands (euro adhoc) -
Further cash distribution EUR 0.70 per certificate(1) announced
Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Annual & Special Corporate Meetings
Utl.: Further cash distribution EUR 0.70 per certificate(1) announced
Jersey/Vienna, October 7, 2009 - All proposed resolutions on the agenda of the Annual General Meeting (AGM) of AI Airports International Limited (AI) held today, Wednesday, in Vienna, were approved by a majority of about 99% of votes.
At the AGM the Board of Directors also confirmed the guidance of anticipated potential further capital distribution to a range between EUR 1.25 and EUR 3.50 per certificate(1). EUR 0.70 per certificate(1) shall be distributed as soon as practical. The amount of EUR 2.25 per certificate(1) was already paid out in June 2009.
The certificate holders present at the AGM approved also all the pre-requisites required for authorising the Board of Directors to make a further interim distribution of capital. After carefully considering the financial position of AI at the present time and after giving consideration to making a solvency statement in accordance with Jersey Company Law, the company will distribute EUR 0.70 per certificate1) as soon as practical.
In addition the certificate holders authorised the Board of Directors to distribute up to an aggregate maximum of EUR 200 million to investors over the next six months. Furthermore, the Board of Directors was authorised, notwithstanding the permitted distributions, to declare by way of further interim distributions such amounts as the directors in their discretion may resolve be distributed.
As the Articles of Association of the company require that each director shall retire at each AGM, the current Board of Directors put themselves forward for re-election. Murdoch McKillop, Richard Boléat, George Baird and James Shinehouse were re-elected to the roles of directors of AI. James Shinehouse was also re-elected to the role of Managing Director of the company.
The AGM also approved the company´s accounts, the directors´ report and the auditor´s report for the period 1 January 2008 to 31 December 2008. BDO Alto Limited, Jersey, was appointed as auditor to the company.
The Board of Directors also presented at the AGM the unaudited financial results of AI (parent company) for the half year ended 30 June 2009. The profit after tax was EUR 9.3 m (compared with minus EUR 189 m in the full year 2008). Gross assets excl. cash and equivalents at 30.6.2009 amounted to EUR 7.7 m (compared with EUR 47.2 m at year end 2008). After the first cash distribution of EUR 2.25 per certificate(1) the total shareholders funds were EUR 238.2 m (compared with 382.0 m at year end 2008). Cash and equivalents amounted to EUR 249.1 m (compared with 353.3 at year end 2008).
(1) Excluding treasury certificates
Further information about AI Airports International is available at: www.airportsinternational.eu
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Branche: Real Estate
ISIN: AT0000A053N4
WKN:
Index: other listings
Börsen: Wien / Third Market