Chairman’s Statement cont,28 May 2009 09:23
Shareholders should be aware that our investor base has changed significantly during the
course of the last year. Two industry participants, one a long-term business partner (Dnata)
and the other (Beverweerd Investments BV) connected to a prior partner with whom we still
have some surviving joint interests, hold 23% and 21% of the share capital respectively. The
top ten shareholders hold around 80% of the total capital of the Company and the current
register includes few of those who invested at the time of the IPO.
I will leave the detailed discussion of business performance to the Chief Executive in his
statement, in conjunction with the Directors’ Report and financial statements. I hope you
agree that, in a difficult global economy, this has been a good year for the Company.
Looking forward, we do not expect much change to the current market conditions during 2009
and have adjusted our cost base to reflect that expectation. Our strategy is unchanged and
we remain in good shape to take advantage of the economic recovery when it takes place.
In closing, let me on behalf of the Board thank the executives and staff of every level who
continue to rise to the challenge of delivering the best client service and through that, the best
possible Company performance. They hold the future of the Company in their hands and I
know they will strive tirelessly to build value for clients, for their fellow employees and for
shareholders.