GAP Complies With Resolutions Approved At Extraordinary Shareholders Meeting Regarding Capital Reduction
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced that the Company on October 3, 2012, complied with what was approved by the Extraordinary Shareholders Meeting, and has made a payment to INDEVAL ( Instituto para el Depósito de Valores) in connection with the capital reduction approved at the Extraordinary Shareholder's Meeting held September 25, 2012 as the second agenda item which stated the following:
“ SECOND - Approval of a reduction in the amount of the Company’s fixed capital stock proportionally between the historical value of the capital stock and the value of the amount as adjusted for inflation through December 31, 2007, for a total amount of Ps. 870,000,000.00 (EIGHT HUNDRED AND SEVENTY MILLION PESOS) payable in cash in a proportional manner among the number of shares outstanding representing the Company’s capital stock on a date no later than October 3, 2012”
In this manner, the Company paid the equivalent of Ps. 1.639281 per share outstanding.
However, the Company has been notified by INDEVAL that INDEVAL will suspend the disbursement of the funds deposited by GAP as INDEVAL was notified of a judicial injunction which presumably prevents INDEVAL from making said distribution.According to a recent development filed by Grupo Mexico with the Bolsa Mexicana de Valores ( Mexican Stock Exchange) dated October 3, 2012, the 50th Judge from the Mexico City Civil Court ordered the Company, INDEVAL and the Mexican Stock Exchange to immediately and unconditionally suspend the resolutions adopted by the Extraordinary Shareholder´s Meeting held September 25, 2012. The Company has yet to be informed by the judge with regards to this judicial injunction. Company Description: Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 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.”
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