Grupo Aeroportuario del Pacifico Pays the Capital Stock Reduction Approved at the Annual General Extraordinary Shareholders' Meeting
GUADALAJARA, Mexico, May 17, 2019 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the "Company" or "GAP") announces that today it has made a capital stock reduction payment of Ps. 3.03 (THREE PESOS AND 03/100 M.N.) per outstanding share representing the Company's shareholder equity, to the institution S.D. INDEVAL, S.A. de C.V. for distribution to shareholders, according to the record date of May 16, 2019. The capital reduction was approved at the General Extraordinary Shareholders' Meeting held on April 23, 2019.
The payment of the capital reduction is equivalent to Ps. 1,592,493,907.41 (ONE BILLION, FIVE HUNDRED AND NINETY-TWO MILLION, FOUR HUNDRED AND NINETY-THREE THOUSAND, NINE HUNDRED AND SEVEN PESOS 41/100 M.N.).
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". In April 2015, GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica. Subject to certain conditions precedent, GAP expects to take control of the operation of the Kingston airport in the last quarter of 2019.
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 01-800-563-0047. The web site is www.lineadedenuncia.com/gap. GAP's Audit Committee will be notified of all complaints for immediate investigation.
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Source: Grupo Aeroportuario del Pacífico, S.A.B. de C.V.