Grupo Aeroportuario del Pacifico Announces Payment Date for the Second and Last Installment of the Capital Stock Reduction Approved at the Extraordinary Shareholders’ Meeting

Rhea-AI Summary

Grupo Aeroportuario del Pacifico (NYSE: PAC) has announced the final installment payment date for its capital stock reduction. The company will distribute Ps. 6.93 per share on November 26th, 2024, completing the capital reduction plan approved at the Extraordinary Shareholders' Meeting on April 25th, 2024. This marks the thirty-ninth such payment and represents the second and final installment of the approved capital reduction.

Positive

• Completion of planned capital return to shareholders
• Consistent execution of shareholder distribution program (39th payment)

Negative

• Reduction in company's capital structure

Insights

Financial Analyst

The announced 6.93 MXN per share capital reduction payment represents the final installment of GAP's capital return program. This structural move impacts the company's capital allocation strategy and shareholder returns. Operating 12 Mexican airports and 2 Jamaican facilities, GAP maintains a strong market position in key tourist and business destinations. The capital reduction demonstrates healthy cash flow management and commitment to shareholder returns, though it slightly reduces the company's equity buffer. The timing aligns with the company's historical pattern of capital distributions, maintaining predictable shareholder returns while balancing growth investments across their airport portfolio.

GUADALAJARA, Mexico, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announces that on November 26^th, 2024, the Company will complete the second and final installment of the capital reduction payment equivalent to Ps. 6.93 (SIX PESOS 93/100 M.N.) per each outstanding share.

With this last payment, the Company fully complies with the capital reduction as approved at the Extraordinary Shareholders’ Meeting held on April 25^th, 2024. This payment corresponds to the thirty-nine such payment.

Company Description

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 Concessioner 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 Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that 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 condition, 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 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 involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is www.lineadedenunciagap.com or by email at denuncia@lineadedenunciagap.com. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

Alejandra Soto, Investor Relations and Social Responsibility Officer	asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations	gmurillo@aeropuertosgap.com.mx/+52 33 3880 1100 ext. 20294

FAQ

When will PAC pay the final installment of its capital stock reduction in 2024?

PAC will pay the final installment of Ps. 6.93 per share on November 26th, 2024.

How much is PAC's final capital stock reduction payment per share?

The final capital stock reduction payment is Ps. 6.93 per outstanding share.

When was PAC's capital reduction approved by shareholders?

The capital reduction was approved at the Extraordinary Shareholders' Meeting held on April 25th, 2024.

Which payment number is this in PAC's capital reduction series?

This is the thirty-ninth payment in PAC's capital reduction series.