23rd Oct 2006 18:27
Ryanair Holdings PLC23 October 2006 RYANAIR CALL ON ENTIRE AER LINGUS BOARD TO RECUSE THEMSELVES Ryanair today (Monday, 23rd October 2006) called on the balance of the AerLingus Board to recuse themselves on the grounds that they were all appointed bythe Minister for Transport. In a Stock Exchange statement issued by Aer Lingus this afternoon, two DirectorsMr. Francis Hackett and Mr. Michael Johns have confirmed that they are notparticipating in the Board's consideration of the Offer and related mattersbecause it would not be in the best interest of the Company and its shareholdersas a whole as they were appointed by the Minister for Transport. As this is thecase, the balance of the Aer Lingus Board should follow suit. The Aer Lingus Prospectus (page 181) clearly states that the entire Board wereappointed by the Minister: "As at the date of this Prospectus, the Directors ofthe Company have been appointed by the Minister for Transport". The Minister for Transport has publicly stated his and the Governmentsopposition to the Ryanair bid. It is therefore not appropriate for hisappointees to decide what is in the best interest of the Company and itsshareholders, as they are also conflicted and therefore should recusethemselves. Ends. Monday, 23rd October 2006 For reference: Peter Sherrard - Ryanair Pauline McAlester - Murray Consultants Tel: +353-1-8121228 Tel: +353-1-4980300 The Directors of Ryanair accept responsibility for the information contained inthis announcement. To the best of the knowledge and belief of the directors ofRyanair (who have taken all reasonable care to ensure that such is the case),the information contained in this announcement for which they acceptresponsibility is in accordance with the facts and does not omit anything likelyto affect the import of such information. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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