Ryanair Makes Formal Complaint to Takeover Pane...
RYANAIR STATES AER LINGUS CLAIMS THAT ITS OFFER IS "NOT CAPABLE
OF COMPLETION" ARE FALSE AND IN BREACH OF TAKEOVER RULES
RYANAIR MAKES FORMAL COMPLAINT TO TAKEOVER PANEL.
Ryanair Holdings PLC today (Wednesday, 7th Jan 2009) stated that Aer
Lingus' claims in recent media statements and in their stock exchange
announcement issued today that the Ryanair's offer "ignores the
substantial competition issues and is therefore not capable of
completion" are completely false. Ryanair believes that these false
claims are also in breach of Takeover Rules and has today lodged a
formal complaint with the Takeover Panel.
Commenting on these false claims Ryanair's, CEO Michael O'Leary said:
"Contrary to Aer Lingus' false claims there is no prohibition in
place on the current offer, a point that was clearly addressed by the
European Commission in June 2007 when Commissioner Kroes stated "the
European Commission does not rule out a future merger between Ryanair
Holdings plc and Aer Lingus Group plc under the right conditions".
"The reality is that the new Ryanair Offer is capable of completion,
and Aer Lingus' claims to the contrary are false and in breach of
Takeover Rules. As a result, Ryanair has made a formal complaint to
the Takeover Panel in relation to these repeated breaches of the
Takeover Rules".
Ends.
Wednesday, 7th January 2009
Enquiries:
Ryanair Telephone: +353 1 812 1212
Howard Millar
Davy Corporate Finance Telephone: +353 1 679 6363
(Financial Adviser to Ryanair and
Coinside)
Eugenée Mulhern
Brian Garrahy
Morgan Stanley Telephone: +44 20 7425 5000
(Financial Adviser to Ryanair and
Coinside)
Colm Donlon
Adrian Doyle
Murray Consultants Telephone: +353 1 498 0300
(Public Relations Advisers to Ryanair)
Pauline McAlester Telephone: +353 87 255 8300
The following statements and information are included in this
statement in accordance with the requirements of the Irish Takeover
Rules.
The directors of Ryanair and Coinside (a wholly owned subsidiary of
Ryanair and the company making the Offer) accept responsibility for
the information contained in this statement, save that the only
responsibility accepted by the directors of Ryanair and Coinside in
respect of the information contained herein relating to Aer Lingus
and the Aer Lingus Group, which has been compiled from published
sources, has been to ensure that such information has been correctly
and fairly reproduced or presented (and no steps have been taken by
the directors of Ryanair or Coinside to verify such information). To
the best of the knowledge and belief of the directors of Ryanair and
Coinside (having taken all reasonable care to ensure that such is the
case), the information contained herein for which the directors of
Ryanair and Coinside accept responsibility is in accordance with the
facts and does not omit anything likely to affect the import of such
information.
Quotation "ignores the substantial competition issues and is
therefore not capable of completion" sourced from Aer Lingus
Announcement dated 7 January 2008
Quotation "the European Commission does not rule out a future merger
between Ryanair Holdings plc and Aer Lingus Group plc under the right
conditions" sourced from Reuters report on Commissioner Kroes press
conference 27 June 2007.
---END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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