Home Business NewsBusinessAviation News Ryanair shares down as British investors to be locked out

Ryanair shares down as British investors to be locked out

by LLB Reporter
11th Mar 19 12:01 pm

Ryanair will not allow British investors to acquire new shares in the Irish airline, the company will strip current UK investors of rights should the UK exit the EU with a no-deal Brexit.

The airline is to put plans in place to protect themselves from a no-deal and wants to ensure they will remain a majority EU controlled and owned airline.

Ryanair after Brexit will treat shares held by non-EU shareholders as “restricted shares” including British share, thus meaning the share holders concerned will have no entitlement to vote, speak or attend any company meeting.

Ryanair said, “Consequently, with effect from hard Brexit day, UK nationals will not be permitted to acquire ordinary shares in the company.”

EU regulations state that airlines must be more than 50% controlled by investors from Europe to fly across the continent.

In February the owners of British Airways, Aer Lingus and Vueling, IAG announced they are to place a limit on non-EU shareholders. IAG insisted the move was nothing to do Brexit.

Ryanair shares at early morning trading were down 1.4% at 11.97 euros.

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