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

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Justice/Processes

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

Further inquiry note:
Metrum Communications
Mick Stempel
T: +43 1 504 69 87-385
M: [email protected]
end of announcement euro adhoc
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company:     AI Airports International Limited
             7 Bond Street 
             A-JE2 3NP St Helier, Jersey, Channel Islands
mail:        [email protected]
WWW:         www.airportsinternational.com
sector:      Real Estate
ISIN:        AT0000A053N4
indexes:     other listings

stockmarkets: Third Market: Wien
language: English

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