Ryanair: amends stock buyback terms

(CercleFinance.com) - Europe's largest low-cost carrier, Ryanair, is amending the terms of the 700 million euro share buy-back program that it announced in May for the period through to May 2020.


The arrangements are intended to enable shares to be repurchased by way of block trades, which involve large quantities of securities, from its EU shareholders.

This means that any such block repurchases from UK holders will, in the event of a no-deal or "hard" Brexit, limit the proportionate number of shares held by, or on behalf of, non-EU shareholders, the company said.

In March Ryanair set up a plan to restrict the voting rights of British shareholders if the UK leaves the European Union without a deal.

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