4th Nov 2005 09:50
easyJet PLC04 November 2005 easyJet plc - Share Ownership Limitation - Announcement easyJet plc (the "Company") Limitation of share ownership Under the Company's Articles of Association, and as previously disclosed, theCompany may limit the level of non-UK share ownership in it in order to protecteasyJet's operating rights and status as a UK airline. This level (the "Permitted Maximum") was set, at the time of the Company's flotation, at 40%. Asat 31 October 2005, the percentage of shares owned by non UK Nationals was40.0%. In order to provide greater flexibility for the Company's shareholders,the Directors have determined to increase the Permitted Maximum to 45%. TheDirectors are currently reviewing opportunities to operate outside the EEA andwill therefore protect these rights by enforcing this new limit as it considersnecessary. Potential enforcement actions set out in Articles 40.5 to 40.18 ofthe Articles include rights to suspend voting rights, refusal to register sharetransfers and to force disposals of shares owned by certain non-UK shareholders. 4 November 2005 Toby Nicol, Corporate Communications +44 (0) 1582 525339 Andrew Barker, Investor Relations +44 (0) 1582 525982 Note to Editors: 1. The provisions of Articles 40.5 to 40.18 apply to AffectedShares (as defined in the Articles and being shares held by non UK Nationalswhich the Directors resolve shall be treated as such for the purposes of Article40). These provisions include provisions as to how the Directors may determinewhich shares are Affected Shares, how the Directors shall notify holders andpersons interested in Affected Shares of their determination, that holders ofAffected Shares shall not be entitled to attend and speak and vote at meetingsof any class of the Company's shares and may, if the Directors so require inthe notice, be obliged to sell their shares within 21 days of receipt of thenotice that their shares are Affected Shares; that the Directors, if they sostate in such notice may sell the Affected Shares if they have not been soldwithin that period; and that the Directors may refuse to register a transfer ofan Affected Share if it would be capable of being treated or become an AffectedShare after transfer. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
easyJet