Flybe Group PLC Posting of Shareholder Circular (9092Q)
22 Febrero 2019 - 11:00AM
UK Regulatory
TIDMFLYB
RNS Number : 9092Q
Flybe Group PLC
22 February 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
SUCH JURISDICTION
FOR IMMEDIATE RELEASE
Flybe Group plc
Posting of Shareholder Circular
Flybe Group plc (the "Company") announced on 4 February 2019
that it had received a valid request under section 303 of the
Companies Act 2006 to convene a general meeting to consider
resolutions to appoint Mr Eric Kohn as a director of the Company
and remove Mr Simon Laffin as a director of the Company.
In accordance with the statutory timetable, the Company has
today posted a circular to shareholders making recommendations to
shareholders in relation to the proposed resolutions. The circular
includes a notice of the requisitioned general meeting, which has
been convened for 11.00 am on Friday 22 March 2019 in accordance
with the statutory timetable.
The Company's Nomination Committee having met with Mr Eric Kohn
in accordance with its procedures applicable to the assessment of
board candidates, the board has been unable to confirm his
independence from Hosking Partners. The Company now has no
operating subsidiaries and, if the scheme of arrangement through
which the offer by Connect Airways Limited for the Company is being
made does not become effective, the board intends to wind-up the
Company once its affairs are settled. The directors do not believe
therefore that Mr Eric Kohn will add to the board's decision-making
or efficient running. Accordingly, the board believes that the
resolution to appoint Mr Eric Kohn as a director of the Company is
not in the best interests of the Company or its shareholders as a
whole and unanimously recommends that shareholders vote against the
resolution to appoint Mr Eric Kohn at the requisitioned general
meeting, as each member of the board intends to do in respect of
his or her own beneficial shareholdings.
The board remains fully supportive of Mr Simon Laffin as both
Chairman and a director and believe that he has dedicated himself
tirelessly to leading the board through a very difficult period.
The independent directors believe that the resolution to remove Mr
Simon Laffin as a director of the Company is not in the best
interests of the Company or its shareholders as a whole and
unanimously recommend that you vote against the resolution to
remove Mr Simon Laffin at the requisitioned general meeting, as
they each intend to do in respect of his or her own beneficial
shareholdings.
Enquiries:
Maitland/AMO
Andy Donald
Finlay Donaldson +44 (0)20 7379 5151
LEI Number: 5493005SC6523Y8KJF24
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END
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