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Ryanair to restrict UK ownership in case of no-deal Brexit


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Ryanair to restrict UK ownership in case of no-deal Brexit

Ryanair Holdings PLC will treat all common shares held by or on behalf of U.K. nationals as restricted shares in case of a no-deal or hard Brexit, in order to remain majority-owned and controlled by investors based in the European Union after Britain exits the bloc.

Holders of restricted shares will not be entitled to attend, speak or vote at any general meeting, Ryanair noted. U.K. nationals will also be unable to acquire common shares in the company in such a scenario, as is the case for all other non-EU citizens.

The rules will remain in place until Ryanair can determine that its ownership and control are not at risk of noncompliance with EU rules, which state that airlines holding an EU operating license must be majority-owned and effectively controlled by nationals of member states at all times.