EasyJet readies Brexit contingency plan to meet ownership rules


Reuters | Published: March 22, 2019 15:00:53 | Updated: March 24, 2019 11:46:41


Passengers board the easyJet Airbus A319-111 OE-LQN aircraft from Berlin to Geneva at Schoenefeld airport near Berlin, Germany on March 24, 2018 — Reuters photo

British low-cost airline easyJet said on Friday it was ready to suspend the voting rights of a small number of shares to comply with rules that require 50 per cent plus one share of the company to be owned by EU shareholders following Brexit.

The carrier said its EU ownership, excluding British shareholders, had increased to 49.92 per cent, and therefore its board was prepared to activate contingency plan of suspending shareholders’ voting rights in respect of a small number of shares on a “last in first out” basis.

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