GUADALAJARA, Mexico—(BUSINESS WIRE)—Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) commented regarding the press release issued by Grupo México S.A.B. de C.V. announcing its intention to acquire up to 100% of the Company’s outstanding shares. The Company informs the following regarding the Company’s by-laws:
i) Article Ten of the Company’s by-laws on share participation limits states in point 1 that: “Series B shareholders, whether as individual holders or jointly with related parties, are not permitted to hold more than 10% (ten percent) of the total outstanding capital stock of the Company, unless the limits on shareholding participation are modified as per Article Twelve or per Article Fourteen, both of the current corporate by-laws.”
ii) Paragraph 2 of Article Twelve states that: “In case a person, either individually or jointly with related parties, were to acquire a percentage of shares greater than the participation limits set forth by Article Ten, the person or group of persons would be obligated to sell any excess shares beyond the participation limits through a public share offering according to current laws. Should this offering not take place, any excess shares would have no voting rights and would not be represented in any shareholders’ meeting.”
These by-laws are valid and have not been modified.