Geneva, 29 December 2020: Wizz Air Holdings Plc (the Company ) announces its decision to treat as Restricted Shares certain Ordinary Shares held by Non-Qualifying Nationals and to issue to such shareholders Restricted Share Notices on the basis set out below (the Disenfranchisement ). This is because from 1 January 2021 UK nationals will no longer be treated as Qualifying Nationals with regards to ongoing European airline ownership requirements, notwithstanding the UK-EU Trade and Cooperation Agreement. Wizz Air Hungary Ltd., a wholly-owned subsidiary of the Company, is the holder of an operating licence issued by the Hungarian Civil Aviation Authority (the Operating Licence ) which it requires to operate flights within the EU.
Tue, 29th Dec 2020 09:11
(Alliance News) - Ryanair Holdings PLC and Wizz Air Holdings PLC early Tuesday confirmed that UK shareholders will have little or no say in the running of the two European budget airlines, starting from Friday.
Dublin-based Ryanair Holdings said it must take steps to ensure that it will remain majority EU owned and controlled following the end of the Brexit transition period.
The Irish carrier said it will treat all shares held by non-EU nationals, including UK nationals, as restricted shares from Friday. This means the holders of the shares will not be entitled to attend, speak or vote at any general meeting.
TOP NEWS: Ryanair And Wizz Air Take Steps To Preserve EU Ownership
Tue, 29th Dec 2020 09:11
(Alliance News) - Ryanair Holdings PLC and Wizz Air Holdings PLC early Tuesday confirmed that UK shareholders will have little or no say in the running of the two European budget airlines, starting from Friday.
Dublin-based Ryanair Holdings said it must take steps to ensure that it will remain majority EU owned and controlled following the end of the Brexit transition period.
The Irish carrier said it will treat all shares held by non-EU nationals, including UK nationals, as restricted shares from Friday. This means the holders of the shares will not be entitled to attend, speak or vote at any general meeting.