A Lingus Brd to Recuse
Ryanair Holdings PLC
23 October 2006
RYANAIR CALL ON ENTIRE AER LINGUS BOARD
TO RECUSE THEMSELVES
Ryanair today (Monday, 23rd October 2006) called on the balance of the Aer
Lingus Board to recuse themselves on the grounds that they were all appointed by
the Minister for Transport.
In a Stock Exchange statement issued by Aer Lingus this afternoon, two Directors
Mr. Francis Hackett and Mr. Michael Johns have confirmed that they are not
participating in the Board's consideration of the Offer and related matters
because it would not be in the best interest of the Company and its shareholders
as a whole as they were appointed by the Minister for Transport. As this is the
case, the balance of the Aer Lingus Board should follow suit.
The Aer Lingus Prospectus (page 181) clearly states that the entire Board were
appointed by the Minister: 'As at the date of this Prospectus, the Directors of
the Company have been appointed by the Minister for Transport'.
The Minister for Transport has publicly stated his and the Governments
opposition to the Ryanair bid. It is therefore not appropriate for his
appointees to decide what is in the best interest of the Company and its
shareholders, as they are also conflicted and therefore should recuse
themselves.
Ends. Monday, 23rd October 2006
For reference: Peter Sherrard - Ryanair Pauline McAlester - Murray Consultants
Tel: +353-1-8121228 Tel: +353-1-4980300
The Directors of Ryanair accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Ryanair (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement for which they accept
responsibility is in accordance with the facts and does not omit anything likely
to affect the import of such information.
This information is provided by RNS
The company news service from the London Stock Exchange
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