AGM 2021 FAQs
ANNUAL GENERAL MEETING
Why is this year’s AGM being held online once again?
Due to the Covid-19 pandemic and ensuing restrictions, this year’s AGM is being held online for the second year running. The organisation of a virtual Annual General Meeting is permitted by Legal Notice 288, which was published in July 2020.
Can I still vote in the AGM?
Yes, you can still vote by filling in the proxy form sent to all shareholders on the register of members at close of business on Monday 5th April 2021. You can either indicate your voting preferences on the resolutions listed on the form OR authorise the Chairman to vote as he wishes. Please note that any resolution which is left unmarked will be treated as an abstention.
Once you fill in the form, you may send it to the Company in the self-addressed envelope enclosed in the pack OR via email on firstname.lastname@example.org. In either case, the proxy form must reach the Company at least 48 hours before the Annual General Meeting happening on Wednesday 5th May 2021.
Can I ask questions during the AGM?
While you cannot interact with the meeting, shareholder questions received by the Company Secretary up to 48 hours before the meeting and deemed to be pertinent to items on the agenda, will be answered during the said meeting. These replies will be uploaded on this page not later than 48 hours after the AGM.
I have lost my password. What can I do?
If you have lost your password, please call our shareholders’ direct line +356 2369 6600 and one of our team members will assist you.
I am experiencing difficulties to log in to the AGM. What can I do?
If you are experiencing difficulties to log in to the AGM, please call our shareholders’ direct line +356 2369 6600 and one of our team members will assist you.
Will shareholder dividend be paid this year?
The Covid-19 pandemic has impacted the Company’s aviation and non-aviation activities adversely and, consequently, the Company’s ability to generate revenue. In order to maintain financial stability during these difficult times, the Company has taken several cost-cutting and liquidity preservation measures over the course of the past year.
As was announced through the publication of Company Announcement 343/2021, following an assessment of the Group’s performance for 2020 and given the limited visibility of the way ahead,
the Board of Directors felt that it was prudent not to recommend a dividend payment for the financial year 2020.
When can I expect the next shareholder dividend to be paid?
Malta International Airport is continuously monitoring the situation and updating the market with decisions that are of interest to its shareholders through the publication of Company Announcements on the Malta Stock Exchange. All Company Announcements are also available here.
REMUNERATION & REMUNERATION REPORT
Is there a cap on the variable remuneration (bonuses) that can be awarded to the CEO and CFO?
The Chief Executive Officer’s variable remuneration is capped at 50% of his fixed salary, while the Chief Financial Officer’s variable remuneration is capped at 30% of his fixed salary. The Chief Executive Officer’s and Chief Financial Officer’s variable remuneration, reported in the Remuneration Report presented on pages 86 – 90 of the company’s last annual report, were paid for the financial year ended 31 December 2019.
The Remuneration Report in the annual report lacks detail in relation to what considerations are taken when awarding the variable remuneration (bonuses) to both the CEO and CFO. What weightings are given to company performance and individual performance when carrying out such performance assessments?
In line with the performance and remuneration principles established by the Board of Directors, the variable portion of remuneration paid to the Chief Executive Officer and Chief Financial Officer is based on three criteria as shown below:
* 70% of variable remuneration is based on individual objectives;
* 20% of variable remuneration is based on company Key Performance Indicators; and
* 10% of variable remuneration is based on individual conduct & performance.
I have not received the Company’s Annual Report with the invitation to this year’s AGM. Why is this?
Following changes to the law and Malta International Airport’s Memorandum and Articles of Association, the Company will no longer be distributing a hard copy of its annual report to all shareholders by mail, but making it available on its website here.
I filled in and sent an Annual Report request form, but did not receive the publication by mail. Why is this?
Annual Report request forms and emails which reached the Company much later than the 26th of March 2021, which was the stipulated deadline, have been noted and will be processed next year.