RNS Number : 3508W Air Partner PLC 30 January 2012 Air Partner plc ("Air Partner", or "the Group") Trading Update Air Partner is a leading provider of aviation charter services to industry, commerce, governments and private individuals worldwide. Air Partner plc is today issuing a trading update, ahead of the start of the close period on 31 January 2012. At the time of its Annual General Meeting in early December, Air Partner cautioned that revenues from the Group's largest division, Commercial Jet broking, were lower year on year, but in line with the Board's expectations. Since then, revenues in this division have been below management estimates, as overcapacity has led to significantly greater levels of competition within the sector. Private Jet broking performance is on target. Despite an adverse macro-economic climate, the division has benefited from existing high net worth clients continuing to travel and new business coming in from a growing number of individuals using private aviation to meet their global travel requirements. Trading within the Freight broking division has been satisfactory, taking into account the difficult trading conditions. Performance is significantly ahead of last year, but below initial management forecasts. The Group's planned investment in recruiting and training sales-focused professionals, who will be important in delivering Air Partner's results in the longer term, has continued, but is being controlled and monitored carefully. Consequently, overheads are higher than last year, but below management expectations. Lower trading revenues, principally in the Commercial Jet broking division, mean that underlying Group profit before tax for the six months ended 31 January 2012 will not meet the Board's initial expectations. Air Partner normally reports stronger trading in the second half of the financial year but, given performance so far, continuing difficult economic conditions and poor visibility, the Board anticipates that profit before tax for the full year ended 31 July 2012 will also be lower than expected. A fuller assessment and update on current trading will be provided with the half year results on Thursday 15th March 2012. Air Partner remains profitable, cash generative and debt free. The Group's net cash position fluctuates according to the timing of flight payments received and made, but net cash is currently at the upper end of the range, at £13 million. 30 January 2012 Enquiries: |
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| Air Partner: |
| T. +44 (0) 1293 844 788 | Mark Briffa, CEO |
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| Gavin Charles, CFO |
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| Temple Bar Advisory: |
| T. +44 (0) 20 7002 1080 | Tom Allison (M.07789 998020) |
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| Joanna Crawford |
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www.airpartner.com
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RNS Number : 7234T Air Partner PLC 09 December 2011 AIR PARTNER PLC RESULTS OF VOTING AT THE ANNUAL GENERAL MEETING, 9 DECEMBER 2011 Air Partner plc confirms that all resolutions put to the Annual General Meeting held at 9.30am today at 2 City Place, Beehive Ring Road, Gatwick, West Sussex RH6 0PA were duly passed. All resolutions were voted on by way of a poll and the results of the poll for each resolution are shown below: Resolution | Votes Cast (excluding votes withheld) | Votes For (including Chairman's discretionary votes) | Votes Against | Votes Withheld | Total | 1: To receive the audited accounts for the year ended 31 July 2011 and the directors' and auditor's reports | 7,987,360 | 7,987,360 | 0 | 433 | 7,987,793 | 2: To approve payment of a final dividend for the year ended 31 July 2011 of 11 pence per share | 7,987,793 | 7,987,793 | 0 | 0 | 7,987,793 | 3: To approve the directors' remuneration report for the year ended 31 July 2011 | 7,986,793 | 7,858,295 | 128,498 | 1,000 | 7,987,793 | 4: To elect Andrew Wood as a director of the Company | 7,985,593 | 7,984,693 | 900 | 2,200 | 7,987,793 | 5: To re-elect Aubrey Adams as a director of the Company | 7,987,793 | 7,982,393 | 5,400 | 0 | 7,987,793 | 6; To re-elect Mark Briffa as a director of the Company | 7,987,793 | 7,986,893 | 900 | 0 | 7,987,793 | 7: To re-elect Gavin Charles as a director of the Company | 7,987,155 | 7,983,559 | 3,596 | 638 | 7,987,793 | 8: To re-elect Richard Everitt as a director of the Company | 7,987,793 | 7,986,743 | 1,050 | 0 | 7,987,793 | 9: To re-elect Anthony Mack as a director of the Company | 6,927,726 | 6,756,947 | 170,779 | 1,060,067 | 7,987,793 | 10: To re-elect Charles Pollard as a director of the Company | 7,987,793 | 7,986,393 | 1,400 | 0 | 7,987,793 | 11: To appoint Deloitte LLP as auditor to the Company, in place of Mazars LLP and to authorise the directors to set the auditor's remuneration | 7,987,293 | 7,984,547 | 2,746 | 500 | 7,987,793 | 12: To authorise the directors to allot shares | 7,987,093 | 7,984,447 | 2,646 | 700 | 7,987,793 | 13: To authorise the allotment of equity securities, disapplying pre-emption rights* | 7,982,597 | 7,979,751 | 2,846 | 5,196 | 7,987,793 | 14: To authorise the directors to make market purchases of shares* | 7,987,293 | 7,978,742 | 8,551 | 500 | 7,987,793 | 15: To allow certain general meetings, other than an AGM, to be called on not less than 14 days' notice* | 7,987,793 | 7,860,355 | 127,438 | 0 | 7,987,793 |
* Special resolutions requiring a majority of 75% of those voting to be in favour. The proxy votes received, including votes withheld, amount to 77.84% of the issued share capital. 10,261,393 ordinary shares of 5p each are in issue, each carrying one vote per share. By the passing of Resolution 11, shareholders have approved the appointment of Deloitte LLP as statutory auditor to the Company in place of Mazars LLP, following a competitive tender. Copies of resolutions 12-15, constituting special business brought before the meeting have today been submitted to the National Storage Mechanism in accordance with Listing Rule 9.6.2. These resolutions will shortly be available for inspection at: www.Hemscott.com/nsm.do. The poll results will also be available shortly on the Company's website www.airpartner.com/investors/AGM Enquiries: Air Partner plc: Helen Perkins, Company Secretary 01293 844786 Temple Bar Advisory: Tom Allison/Joanna Crawford 020 7002 1080
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RNS Number : 6549T Air Partner PLC 09 December 2011 Air Partner plc ("Air Partner", or "the Group") AGM AND INTERIM MANAGEMENT STATEMENT Air Partner, the provider of aviation solutions to industry, commerce, governments and private individuals worldwide, holds its Annual General Meeting today. At the meeting Mark Briffa, CEO, will make the following statement regarding the Group and its financial position, performance and prospects: "When Air Partner published its annual results, in October, the Board noted that the aviation sector was likely to be affected by continuing instability in the primary world markets. This has proved to be the case, with a number of airline operators and travel companies reporting financial difficulties. Against this backdrop of a very difficult trading environment, Air Partner remains stable and continues to trade profitably. Revenues from the largest division, Commercial Jet broking, are currently lower than last year, but in line with the Board's expectations. Sales within the Freight broking and Private Jet broking divisions have been encouraging. However, it is still too early for this to provide any reliable indication of future financial performance. The Group is making progress in its strategic aim of increasing the contribution from operations outside the UK. Our US business continues to show early signs of improvement, as investments made over the last 12 months start to have a positive impact. New General Sales Agency arrangements and a further strengthening of the sales team have seen Air Partner's sales presence extended to cover Hungary, Poland and Slovenia, Ukraine, Greece, Cyprus and Switzerland. Discussions are also progressing on the establishment of Air Partner's services in Asia. Full year results were announced just eight weeks ago and current trading remains satisfactory, with net cash reserves of just over £8 million (31 July 2011: £7.2 million). Looking ahead, the Board remains cautious in its assessment of prospects for the current year, given the continued economic uncertainty and the lack of visibility characterising the industry. Nevertheless, planned investment is continuing, bringing into the team experienced professionals with a strong sales focus and industry-wide connections and the Board remains confident in the long term growth prospects for Air Partner's key markets. Air Partner intends to announce half year results for the first six months to 31 January 2012 on Thursday, 15 March 2012. 9 December 2011 Enquiries Air Partner: Mark Briffa, CEO 01293 844800 Gavin Charles, CFO Temple Bar Advisory: Tom Allison 07789 998020 Joanna Crawford 020 7002 1080 www.airpartner.com
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