11th Mar 2019 09:20
LONDON (Alliance News) - Ryanair Holdings PLC on Monday said its board took steps to protect the company from a "hard Brexit" and ensure it will remain majority EU-owned and controlled.
The budget Irish airline's board implemented a series of resolutions to protect the company in the case of a no-deal Brexit.
Among these, Ryanair decided that all shares held by non-EU shareholders, including British ones after Brexit, will be treated as "restricted shares", meaning that they will have no entitlement to attend, speak or vote at any company meeting.
Furthermore, Ryanair added that the prohibition on non-EU nationals to acquire shares, announced in 2002, continues to apply.
"Consequently, with effect from hard Brexit day, UK nationals will not be permitted to acquire ordinary shares in the company," it said.
Ryanair shares were trading down 1.4% at EUR12.00.
Related Shares:
RYA.L