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: m.stempel@metrum.at

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: vavercakova@airportsinternational.eu
WWW: www.airportsinternational.com
sector: Real Estate
ISIN: AT0000A053N4
indexes: other listings
stockmarkets: Third Market: Wien
language: English