EANS-News: Meinl Airports International Ltd. / Board of Directors convenes two Extraordinary General Meetings (EGM) in Vienna for April 22, 2009

--------------------------------------------------------------------------------
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
the content of this announcement.
--------------------------------------------------------------------------------

St, Helier Jersey (euro adhoc) - Jersey, 27 March 2009 - The Board of AI
Airports International (AI) announces that it convenes, in accordance with the
requisition of a group of certificate holders, two EGMs in Vienna for 22 April
2009, the first at 10 am and the second following after the conclusion of the
first EGM. While the second EGM´s only agenda item is a decision on the change
of the name of the Company to AI Airports International Limited, the proposed
resolutions for the first EGM cover several topics, including a material change
of the Company´s strategy.

The resolutions presented to certificate holders at the first EGM include:

• an authorisation of the Board to return free cash to certificate holders in
one or more tranches, with the expectation of an initial return of approx. EUR
300 million in total or such other amount as can be lawfully and economically
distributed,
• a change to the investment objectives of the Company whereby the Board is
authorised to sell or otherwise dispose of all or any assets of the Company and
no investments in new projects can be made without certificate holders´
approval,
• an authorisation of the Board to distribute to certificate holders proceeds of
the sale of the Company´s assets.

"These proposed changes enable us to fulfil what we have promised to our
certificate holders before our election as independent Board of Directors: To
minimise the losses of our certificate holders caused by the previous board and
the Meinl Bank Group", the Chairman of the Board of Directors, Wolfgang
Vilsmeier, explains. "The Board has finished its thorough review of the existing
portfolio assets and has taken into consideration the dramatically changed
economic and investment conditions compared to those prevailing at the time of
the initial public offering."

The Board has drawn two main conclusions: First, the original strategy to act as
a long-term investor in the airports sector is no longer the most appropriate
course for the Company which means that excess capital should be returned to
certificate holders rather than being invested in new projects. Second, that AI
is not ideally suited to act as a long-term investor for its investments.
Especially the current downturn in the global and European aviation industry
significantly prolongs the timeframe in which the AI assets could be turned into
profitable businesses.

Wolfgang Vilsmeier adds that against the backdrop of current economic conditions
he is convinced that now is not the right time to be buying additional assets
with the remainder of the certificate holders´ funds. "We believe that it´s in
the best interest of certificate holders that - by returning excess capital -
they are enabled to decide by themselves in which manner their funds are being
invested or otherwise made use of."

With regards to AI's current investments Wolfgang Vilsmeier comments: "We are
very focused on improving the financial performance of our investment portfolio.
But as a result of the deficient investment policy of the former Board, our
investment portfolio assets have not generated positive returns so far which
caused us to significantly write-down the carrying values of the investments
during Q3 2008. Nevertheless, in the last months we have implemented an
efficient portfolio management and have undertaken great efforts to optimise the
airports in Ulan Ude, Bydgoszcz and Parma as well as the development project in
Sochaczew. Our active management approach should lead to an improvement of their
performance in the long-term, which should enable us to realize the maximum cash
value in the sales process."

In addition the proposed resolutions cover, amongst others, changes to the
Articles of Association of the Company and the election of a smaller Board of
Directors. Several of the proposed resolutions will also require the consent of
the Jersey Financial Services Commission. Detailed information on the content of
all proposed resolutions will be available at the Company's website
www.airportsinternational.eu.

Finally Vilsmeier invites all certificate holders of AI to take part at the
EGMs. As the Company is subject to Jersey Company Law all certificate holders
who intend to attend and vote at the EGMs have to complete and sign the Form of
Proxy that will be available for download - both in German and English - on the
website of the Company www.airportsinternational.eu.

More information on AI Airports International is available at:
www.airportsinternational.eu

Further inquiry note:
Please address any inquiries to:
Investor Relations and Public Relations
Hochegger Financial Relations GmbH;
Dieter Riedlinger
T: +43 (01) 504 69 87 344;
M: [email protected]

end of announcement euro adhoc
--------------------------------------------------------------------------------

emitter: Meinl Airports International Ltd.
32 New Street
A-JE2 3RA St, Helier Jersey
phone: +43 676/ 840 531 202
mail: [email protected]
WWW: www.meinlairports.com
sector: Real Estate
ISIN: AT0000A053N4
indexes: other listings
stockmarkets: Third Market: Wiener Börse AG
language: English

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | CNE

print