22nd May 2020 10:00
(Alliance News) - easyGroup Holdings Ltd on Friday said easyJet PLC's founder & largest shareholder Stelios Haji-Ioannou - holding a 34% stake - submitted questions for Friday's sure-to-be-tense general meeting.
These questions are directed at each and every one of the directors individually, Haji-Ioannou's easyGroup said. He asked how many easyJet shares does Airbus SE control, directly or indirectly. He also asked about links between easyJet directors and three Swiss lawyers and whether easyJet is a "going concern".
On Tuesday last week, Haji-Ioannou said he is willing to offer GBP5.0 million to anyone with information that could stop the carrier's GBP4.5 billion aircraft order from manufacturer Airbus. It was the latest bizarre twist in a battle that has seen Haji-Ioannou routinely lambaste easyJet's top team, including Chair John Barton, Chief Executive Officer Johan Lundgren, and Chief Financial Officer Andrew Findlay.
He is seeking to have them ousted. easyJet will hold a general meeting later on Friday - instigated by Haji-Ioannou - at which shareholders will vote on the future of 4 out of its 11 directors.
Other than Haji-Ioannou, big easyJet shareholders include Invesco Ltd, with a 10% stake and Black Rock Inc, holding 5.0%, according to Morningstar.
Earlier this month, Haji-Ioannou alleged that three investors backing the airline's management are working on behalf of Airbus.
Without offering any specific evidence, he said Invesco, Ninety One UK Ltd and Phoenix Asset Management are trying to keep the company's board members in their jobs, so they can continue paying more money to Airbus. The three investors jointly own a 14% stake in easyJet.
Haji-Ioannou also said in the letter Friday that he believes that there is a conflict of interest for Barton to be chairing a meeting that concerns his removal as a director.
easyJet shares were trading 2.5% lower in London on Friday morning at 560.20 pence each.
By Evelina Grecenko; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
easyJet