28th Sep 2015 16:48
LONDON (Alliance News) - Ryanair Holdings PLC Monday said that the EUR398 million it last week said it will distribute to shareholders amounts to EUR0.2942 per share, and that it will consolidate shares on the basis of 39 new shares for every existing 40 shares.
Last Thursday, the low-cost airline said that it is returning the funds from the proceeds of the sale of its stake in Aer Lingus Group PLC, via a B share programme to be concluded before December.
This will bring the total funds returned to shareholders this year to EUR800 million.
Ryanair agreed to sell its 29.8% stake in Aer Lingus to International Consolidated Airlines Group in July.
On Monday it said that in order to try to maintain the market price for shares at approximately the same level as immediately prior to the implementation of the return of cash, a capital reorganisation, entailing a share consolidation on the basis of 39 new shares for every 40 existing shares, also is being proposed.
Ryanair added that it will hold an extraordinary general meeting in Dublin on October 22, at which the resolutions necessary for the implementation of the return of cash will be voted on.
Shares in Ryanair closed flat at EUR13.39 on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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