21 May 2014 11:36
Air Partner plc
("the Company")
Further information for shareholders in relation to the Company's Remuneration Policy for Executive Directors
The Directors' Remuneration Policy Report on pages 38 to 48 of our Annual Report for the period ended 31 January 2014 sets out the policy which we intend to apply for the future if approved by shareholders at our forthcoming AGM on 5th June. I welcome the opportunity to engage with shareholders and their representative bodies on all aspects of remuneration. In response to questions as to how the Remuneration Committee might use its power to make payments outside the remuneration policy on recruitment of an Executive Director in exceptional and unforeseen circumstances, I would like to clarify that:
- any arrangement established specifically to facilitate recruitment of a particular individual would take the form of performance-related variable remuneration. The value of this would be capped to be no higher, on recruitment, than the awards which the individual had to surrender in order to be recruited. The same remuneration policy as for the existing Executive Directors would apply to the balance of the individual's remuneration package; and
- the Remuneration Committee does not envisage any cash payment being offered which could be construed as a "golden hello".
Grahame Chilton
Chairman of the Remuneration Committee
21 May 2014
Enquiries:
Air Partner plc
Michael Anscombe +44 (0) 1293 844786
Company Secretary
Temple Bar Advisory +44 (0) 20 7002 1080
Tom Allison (M.07789 998020)
Joanna Crawford
About Air Partner plc
Air Partner has been trading for over 50 years and is a world leading provider of aviation charter services to industry, commerce, governments and individuals worldwide. The Group is globally recognised as a leading charter broker and organises ad hoc aircraft charters of every type for any reason. Its three main divisions comprise Air Partner Private Jets, Air Partner Commercial Jets and Air Partner Freight. The Commercial Jets division charters large airliners to move groups of any size. Private Jets offers the company's pre-paid JetCard scheme and on-demand charter. With its headquarters alongside Gatwick airport in the UK, Air Partner operates 24/7 year-round and has 20 offices globally. Air Partner is also the only air charter broker in the UK certified ISO 9001:2008 compliant for commercial airline and private jet solutions worldwide.www.airpartner.com
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