easyJet PLC Issuance of Affected Share Notices (4128K)
04 Gennaio 2021 - 11:00AM
UK Regulatory
TIDMEZJ
RNS Number : 4128K
easyJet PLC
04 January 2021
4 January 2021
easyJet plc
Issuance of Affected Share Notices
On 23 December 2020, easyJet plc (the "Company") announced that
the Board had passed resolutions as part of its contingency plan to
ensure continued compliance with EU ownership and control
requirements following the end of the Brexit transition period on
31 December 2020.
In particular, the Board resolved to set a Permitted Maximum of
Relevant Shares of 49.5%. The Permitted Maximum represents the
maximum permitted level of ownership of the Company's shares by
Relevant Persons (see Note 1).
As at 1 January 2021, the Company's level of ownership by EU
persons (see Note 2) is 47.35% and the level of ownership by
Relevant Persons is 52.65%.
The Board also notes that the EU-UK Trade and Cooperation
Agreement does not grant a derogation or alleviation for EU
carriers from the EU ownership and control requirements.
Accordingly, and in line with its contingency plan, the Company
has commenced steps to suspend voting rights in respect of certain
shares ("Affected Shares") held by Relevant Persons in accordance
with the Company's articles of association (the "Articles") so that
a majority of the voting rights in the Company are held by EU
Persons.
Any such Relevant Persons will be receiving Affected Share
Notices from the Company. The voting rights suspension is being
applied on a "last in, first out" basis such that the shares most
recently acquired by Relevant Persons will have voting rights
suspended first.
An Affected Share Notice will specify that Article 39.6.1
applies in respect of the Affected Shares, which means that the
registered holder of such Affected Shares shall not be entitled
(until and unless that Affected Share Notice is withdrawn by the
Company), in respect of such Affected Shares, to attend or to speak
at any general meeting of the Company or any meeting of the holders
of any class of shares or to vote at any such meeting.
This means that Relevant Persons, including those who acquire
shares in the Company following this announcement, may have some or
all of their voting rights suspended by the Company.
The Company may from time to time and by notice withdraw
Affected Share Notices to ensure that the Relevant Persons whose
voting rights are suspended are those who most recently acquired
shares.
The Company will keep the position under review and, if
ownership by Relevant Persons continues to exceed the Permitted
Maximum over a sustained period, the Company retains the right to
activate the existing provisions of its Articles, which permit the
Company to compel Relevant Persons to sell their shares to EU
nationals. There can be no assurance as to when, or if, the
Permitted Maximum will be removed.
Further information may be found at:
http://corporate.easyjet.com/investors/shareholder-services/eu-share-ownership
For further details, please contact:
Institutional investors and analysts:
+44 (0) 7985 890
Michael Barker Investor Relations 939
+44 (0) 7583 101
Holly Grainger Investor Relations 913
Media:
+44 (0)7985 873
Anna Knowles Corporate Communications 313
+44 (0) 7733 294
Dorothy Burwell Finsbury 930
+44 (0)7947 740
551 /
Edward Simpkins Finsbury (0) 207 251 3801
LEI: 2138001S47XKWIB7TH90
Note 1: "Relevant Persons" has the meaning given to it in the
Articles. In general terms, "Relevant Persons" refers to non-EU
nationals.
Note 2: "EU persons" refers to the nationals of one of the
member states of the EU, Switzerland, Norway, Iceland or
Liechtenstein.
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END
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