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date: 16 August 2017

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Sir Stelios to make protest vote at easyJet AGM

Sir Stelios to make protest vote at easyJet AGM

easyJet founder and Stat-counters.net

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largest shareholder Sir Stelios Haji-Ioannou will make a protest vote at next month's AGM after the budget airline announced its Q1 trading update that sent the share price into a sharp fall.

He said:

"easyGroup notes the easyJet stockmarket update for Q1 and the share price slump that has ensued.

"Clearly other investors are extremely unimpressed by the decline in the revenue per seat.

"easyGroup will therefore make a protest vote against the company's "fleet plan". At the upcoming AGM on 9 February, it will be voting a token 15m shares against the re-election of John Barton as chairman of the board . For clarity this is about 3% of the company's issued share capital - NOT the full c33% we control.

"I am not trying to unseat John Barton but we do want to send a public message to focus investor attention on the fleet plan presented by the management twice yearly alongside the results presentation. Unfortunately very few investors seem to pay much attention to it. (See attached the fleet plan released to the market on 15 November 2016.)

"In our view the best way to increase the earnings per share and send the share price up again is to reduce the incremental aircraft in the fleet from 2018 onwards. As patient long term investors in this company we will be watching the new fleet plan with anticipation."

Please click here to view the
easyJet Trading Statement for the quarter ended 31 December 2016

Sir Stelios to make protest vote at easyJet AGM

Media Coverage

24/01/2017 - ft.com
24/01/2017 - telegraph.co.uk
24/01/2017 - dailymail.co.uk
24/01/2017 - bloomberg.com
24/01/2017 - cityam.com
25/01/2017 - City A.M.
25/01/2017 - The Financial Times ( Airlines )
25/01/2017 - The Financial Times
25/01/2017 - The Guardian
25/01/2017 - Daily Mirror
25/01/2017 - The Sun
25/01/2017 - The Daily Telegraph
25/01/2017 - The Times ( Business Commentary )
25/01/2017 - The Times Ireland
25/01/2017 - The Times

 
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