IAG Sets Maximum Non-EU Share Limit At Current Level

LONDON (Alliance News) - International Consolidated Airlines Group SA on Monday said it has set ...

Alliance News 11 February, 2019 | 6:03PM
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LONDON (Alliance News) - International Consolidated Airlines Group SA on Monday said it has set the maximum number of its shares that can be held by non-EU persons at 47.5%.

The Anglo-Spanish airline, which owns British Airways and Iberia, said ownership of the company's shares by non-EU persons had reached that percentage and it had decided to specify this as the maximum aggregate number of non-EU shares.

"There can be no assurance as to when, or if, the permitted maximum will be removed," IAG said.

Following this announcement, no further share acquisitions by non-EU persons may take place and no certificate making such acquisitions effective will be issued.

Any shares acquired by a non-EU person are now to be treated as affected shares and an affected share notice will be given to any non-EU buyer.

UK buyers are not currently considered to be non-EU persons and the restriction will not apply to them unless IAG issues a further notification to that effect. "IAG has no plans to issue such a notification", the company said.

Shares in IAG closed up 1.3% at 663.60 pence on Monday.

By Anna Farley; annafarley@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
International Consolidated Airlines Group SA 532.60 GBX -0.34 -
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