Ryanair freezes out UK shareholders

Ryanair on Tuesday confirmed it would restrict the voting rights of British shareholders from January 1st in a bid to ensure it remains majority EU-owned and retain full licensing and flight rights in the bloc Reuters reports.

The plan to restrict British shareholders was approved by the airline last year, subject to the terms of a final agreement on Britain’s post-Brexit relationship with the European Union.

“Restricted Share Notices will be issued to the registered holder(s) of each Restricted Share in due course, specifying that the holder(s) of such shares shall not be entitled to attend, speak or vote at any general meeting of the Company,” Ryanair said in a statement.

“These resolutions will remain in place until the Board of the Company determines that the ownership and control of the Company is no longer such that there is any risk to the airline licences held by the Company’s subsidiaries,” the statement said.

UK nationals, like all other non-EU nationals, will not be permitted to acquire ordinary shares, the statement said.

Ryanair last February said that while the airline was 55% EU-owned, Britain-based shareholders at the time controlled around 20% of its stock.

Wizz Air is to follow suit, saying that if it does not take action, its shareholding structure means the company would be 80%-owned by non-qualifying investors on this date.

Follow EU Today on Social media:

EUToday Correspondents

EUToday Correspondents

Our team of independent correspondents, based across Europe and beyond, are at the centre of geopolitical dynamics. We are united by our commitment to free and unbiased journalism, and our devotion to the concept of true and unfettered democracy. We take our job very seriously!

Related posts