EANS-News: AI Airports International Limited / Jersey Court Gives its Decision in Litigation with Former Director

St Helier, Jersey, Channel Islands (euro adhoc) -

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Justice/Processes

Jersey/Vienna January 24, 2013
- The Board of Directors of AI Airports International Limited (AI) announces that it has been informed of the decision of the Royal Court of Jersey in the proceedings brought by former director Björn Pirrwitz for a payment on his removal from the Board of Directors of the Company at the extraordinary general meeting of April 2009, in the amount of EUR 600,000 plus interest and costs. AI defended that claim, on various grounds, and also brought a third party claim against the former chairman of the Board of Directors of the Company, Wolfgang Vilsmeier, seeking an indemnity from him in the event that the Company was held to be liable to Mr. Pirrwitz. AI also filed a counter-claim against Mr. Pirrwitz for breach of fiduciary duty in relation to his role as a director of SOGEAP, the owner and operator of the airport in Parma, Italy. The Court decided in favor of Mr. Pirrwitz both in relation to his claim for a payment pursuant to his removal from the Board of Directors, and the Company's counterclaim with respect to breach of fiduciary duty. The Court also decided against AI regarding its third party claim with its former chairman.

The Board of Directors is disappointed with this outcome, and considers it entirely inconsistent with all advice it received. The Board is considering its options with respect to these matters and will inform the certificate holders when further information is available.

end of announcement euro adhoc

company: AI Airports International Limited 7 Bond Street A-JE2 3NP St Helier, Jersey, Channel Islands mail: vavercakova@airportsinternational.eu WWW: www.airportsinternational.com sector: Real Estate ISIN: AT0000A053N4 indexes: other listings

stockmarkets: Third Market: Wien
language: English

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Rückfragen & Kontakt:

Metrum Communications
Mick Stempel
T: +43 1 504 69 87-385
M: m.stempel@metrum.at

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