Fri. Apr 10th, 2020

Ryanair shields its capital from British shareholders to dodge a hard Brexit

Ryanair blinda su capital de accionistas británicos para esquivar un Brexit duro



The Irish airline Ryanair He has informed on Monday that he will restrict the rights of the British shareholders and will prevent them from acquiring titles if there is a Brexit hard, in order to ensure that most of the titles of the company are in the hands of community to operate throughout the continent.

In a statement sent to the London Stock Exchange, the company has explained that the measure is part of its contingency plans if the Kingdom
United leaves the European Union (EU) whitout deal. Plans to comply with the "ownership and control" requirements of the airline established by the EU regulation.






Restrictions

British citizens will not be able to "attend, speak or vote" at any general meeting

In the disorderly exit scenario, all non-community actions (including British ones) will be considered "restricted", which will prevent them from "attending, speaking or voting at any general meeting" of the company while their titles have that category. To avoid doubts, British citizens will not be able to buy "ordinary shares" from the "day of the hard Brexit", which could occur next March 29.

The EU regulation establishes that more than 50% of its actions must be in the hands of holders of the EU, as a condition to be able to operate throughout the continent under the policy of "open skies".

The Irish company has indicated that these measures have been approved by its board of directors and that they will enter into force on the day that British citizens cease to be considered "community residents".


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