Ryanair calls on Aer Lingus to agree to EGM request

Ryanair calls on Aer Lingus to agree to EGM request

Ryanair has written again to Aer Lingus calling on them to accede to Ryanair’s request to an EGM so that shareholders can discuss and express their opinion upon the continuing “cover up” of the Deloitte & McCann Fitzgerald Report, as well as address the issue of further contributions to Aer Lingus’ defined contribution pension schemes, without shareholder approval.

Ryanair has rejected Aer Lingus’ legally invalid claim that its previous requisition was invalid because it was signed “pp” by Ryanair’s Company Secretary. In order to remove this spurious claim, Ryanair has tabled a new requisition signed personally by Ryanair’s Company Secretary.

Ryanair also today released a letter from Aer Lingus’ lawyers Arthur Cox and a letter from the Office of the Director of Corporate Enforcement (ODCE) which confirmed in writing that the Directors of Aer Lingus “must proceed to convene the EGM ”...” where the requisition is properly made”. Ryanair now hopes that Aer Lingus will comply with its obligations under Irish Company Law and the European Shareholder Rights Directive and facilitate Ryanair’s request for an EGM.

Ryanair’s Stephen McNamara said:

“The excuses put forward by Aer Lingus for rejecting Ryanair’s previous EGM Requisition Notice have no basis in Company Law. We welcome the written confirmation by the ODCE that the Board of Aer Lingus must call this EGM, when properly requisitioned by a 10% shareholder.”

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“We now call on the ODCE and the Irish Stock Exchange, to take appropriate action to ensure that the Board of Aer Lingus complies with their corporate governance obligations under Irish Company Law and the European Shareholder Rights Directive and facilitate this properly requisitioned EGM.”


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