Sep 19, 2018

Ryanair investors 'may lose voting rights'

The Irish airline has said it may restrict the voting rights of all non-EU shareholders if there is no transition deal in place after Brexit. Shareholder advisory firms Glass Lewis and ISS are advising investors to vote against the chairman, David Bonderman. In July, when Ryanair said its profits in the quarter had been hit by higher wage costs, it also warned that hUK investors may lose their voting rights in the event of a hard Brexit. "Accordingly, in line with our articles of association, we would intend to restrict the voting rights of all non-EU shareholders, so that we can ensure that Ryanair is majority-owned and controlled by EU shareholders at all times to comply with our licences." Ashley Hamilton Claxton, head of responsible investment at Royal London, said that as a UK-based shareholder, the firm was "Vehemently against" any changes to shareholder rights post-Brexit.

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