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.
