By Alex Glenn • 15 September 2021 • 8:03
Ryanair initiates forced sale of shares due to Brexit Credit: Pixabay
Ryanair initiates forced sale of shares due to Brexit. Since brexit UK citizens have been prevented from buying stock in Ryanair, although some people have still managed to do so.
Ryanair Holdings have announced in a stock exchange disclosure that they have initiated the forced sale of some shares. This applies to shares that were bought by United Kingdom nationals or on their behalf, since the beginning of this year.
Ryanair Holdings is the parent company of Ryanair, Malta Air, Buzz, and Lauda Europe. Where people managed to purchase shares that they should not have, Ryanair had classified them as “restricted shares” and asked buyers to hand them over to EU nationals.
Some people have not complied with this request, and the company “has initiated the forced sale of approximately 1 million ordinary shares in accordance with its Articles of Association.”
Ryanair have been forced to do this to ensure that they continue to comply with EU regulations regarding airline ownership and control requirements.
According to Ryanair: “It is expected that the company may initiate further forced sales of restricted shares from time to time,” and that the company “may elect to do so without any further announcement.”
According to ch-aviation, “The prohibition on non-EU nationals acquiring ordinary shares in Ryanair Holdings, as announced in February 2002, continues to apply. But non-EU nationals including UK citizens can continue to invest in it via its American Depositary Receipt scheme on the NASDAQ in the United States.”
In other recent Ryanair news, Ryanair launches 10 new winter routes for Spain’s Barcelona.
Ryanair have announced their 2021 winter schedule which will have a total of 73 routes and 10 of these are new connections for Spain’s Barcelona. The new routes will connect Catalonia to a stunning variety of European destinations starting in October.
The new connections will include, Agadir (Morocco), Stockholm-Arlanda Airport (Sweden), Brindisi (Italy), Bristol (United Kingdom), La Palma (Spain), Lisbon (Portugal), Uchda (Morocco), Palermo (Italy), Rabat (Morocco) and Tallinn (Estonia).
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Originally from the UK, Alex is based in Almeria and is a web reporter for The Euro Weekly News covering international and Spanish national news.
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