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RYANAIR HAS CONFIRMED plans to remove itself from the London Stock Exchange due to high costs and the low number of trades being made.
The airline said it will just be listed on the Euronext Dublin exchange, with the final day of trading set to be on 17 December. It currently has dual-listed status.
Ryanair said: “As indicated at our interim results, and following subsequent shareholder engagement, Ryanair has decided to request the cancellation of London listing as the volume of trading of the shares on the London Stock Exchange does not justify the costs related to such listing and admission to trading, and so as to consolidate trading liquidity to one regulated market for the benefit of all shareholders.”
The company had previously floated the idea of a delisting earlier this month and said Brexit played a significant factor in the decision.
At its results in early November, the firm said: “The migration away from the LSE is consistent with a general trend for trading in shares of EU corporates post Brexit and is, potentially, more acute for Ryanair as a result of the long-standing prohibition on non-EU citizens purchasing Ryanair’s ordinary shares being extended to UK nationals following Brexit.”
Back in September the airline started the process of selling off around one million shares bought by non-EU nationals since 1 January – mainly British investors – due to company rules and Brexit.
The airline has a prohibition on non-EU nationals snapping up a stake in the company dating back to 2002.
Ah… Brexit – the gift that just keeps giving
@Andy #FBPE: it sure does Andy. Exactly what they were told would happen. The Tories need to go, there is nothing worse than that despicable party,well on their way to destroying England.
@Andy #FBPE: the LSE is becoming less relevant to European companies.
The “British Empire” is continuing to crumble every day. Good old Brexit!!!
@Brian Kelly: just wait Borris will be along soon to tell everyone how great Brexit is and the UK is thriving.
All joking aside, it’s actually awful how a once proud nation is destroying itself. Boris Johnson and Nigel Farage should be hung from the Tower of London for literally destroying their country, and bar another vote on Brexit, the future is quite bleak for the UK. I’m sure there are plenty on here who find that hilarious, but people also need to remember that Britain has been providing jobs and a home for Irish people for centuries, and it’s always in our interests that Britain is successful.
@The Firestarter: you’re absolutely right, its very sad & definitely impacting us adversely over here but somehow I still can’t help myself enjoying it!
@The Firestarter: I agree. I honestly had the impression that many voters weren’t used to referendums, and they each left it to their media and politicians to summarise the pros & cons & give them the nod instead of reading up on the basics. They don’t seem to have had much idea of how many solid agreements in most people’s interests were being unravelled and thrown out with no plan to replace them. Plenty of people in Britain are suffering losses and they deserved better.
Amazon, now Ryanair. I wonder who’s next?
@Noel Martin: Scotland?
Can anybody explain the impact this will have on the London Stock Exchange? It would be interesting to know.
@Pat Forster: lf many big companies follow suit it will have an impact on the financial trade sector in London. Financial service companies (banks) are leaving or have moved parts of their operations to other countries, so the London global hub is weakening thanks to Brexit !
Pretty sure there on the NYSE as well
@Brax Braxton: Those are ADRs rather than actual owning the shares directly but yeah you can buy on the New York stock exchange and it’s effectively the same thing.
have your say