The share owners of Ryan Air from the UK could be left in a lurch if the UK exits the EU with no deal. Ryan Air is an Irish airline company announced that it was thinking of evoking the voting powers of all non EU members if there is no scope for transition post Brexit. The company published the statement in its annual conference of share owners which took place on Thursday. The shareholders were also being suggested to vote out some of the board directors and the chairman of the company too.
The company has said that all the resolutions will be finalized at the company’s meeting which is scheduled to be held at Gormanston. Advisory companies like ISS and Glass Lewis are asking the shareholders to not to give vote for the existing chairman named David Bonderman. The chairman is the initiator a private equity firm called TPG and is a member of the company board for around 22 years. He is not a suitable candidate and known as dependent on others for taking decisions.
An asset management company from London said that they are determined to vote out the present chairman in order to safeguard the interest of the shareholders from UK if the Brexit takes place amidst adverse circumstances. In the month of July itself, the airline firm from Ireland had warned about shareholders in UK losing their power of vote in case there is a no deal Brexit. Mr. Bonderman expressed his concerns about the potential impact on the airline’s flight and license rights if the UK is no longer a part of EU. In order to comply with the company’s article, they will have to take away the rights of non EU members so that the company is owned solely by the EU owners and in this way their license will be safe from any adversity.