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03.03.2010 14:41

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Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) Announces Proposed Dividend Payment

Great AtlanticPacific Tea zu myNews hinzufügen Was ist das?


Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ("the Company” or "GAP”) announced that on February 23, 2010, the Company’s Board of Directors decided to submit the following items for consideration at the Annual Shareholder Meeting ("Meeting”) to be held April 27, 2010:

1. Proposal to declare and pay a cash dividend of Ps. 1 billion (ONE BILLION PESOS), to be distributed proportionally between the shares outstanding on the payment date as determined at the Meeting. Management recommends that the dividend be paid in two parts:

a) Ps. 750 million (SEVEN HUNDRED MILLION PESOS) by May 28, 2010.

b) Ps. 250 million (TWO HUNDRED AND FIFTY MILLION PESOS) by November 30, 2010.

2. Proposal for a capital reduction of Ps. 900 million (NINE HUNDRED MILLION PESOS), to be paid in cash and proportionately among the total outstanding shares by May 28, 2010.

The above is a result of the financial strategy that the Company has been implementing since 2007.

GAP will publish a notice for the Annual Shareholder Meeting regarding the items mentioned above and will provide notification in due course of those items that are approved at the meeting as required by the applicable regulations.

Company Description:

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates twelve airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol "PAC” and on the Mexican Stock Exchange under the ticker symbol "GAP”.

This press release may contain forward-looking statements. These statements are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates”, "believes”, "estimates”, "expects”, "plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial conditions, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the "Ley del Mercado de Valores”, GAP has implemented a "whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 800-759-0045. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

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