IAG, the ‘holding’ that includes Iberia, British Airways (BA), Vueling, Aer Lingus and the LEVEL brand, has decided to immediately eliminate the limit to the participation of shareholders outside the European Union two weeks after make the ‘Brexit’ effective.
Specifically, on February 11, 2019, the registration of registered shares of IAG showed that the level of ownership of the company’s capital stock by non-EU shareholders had reached 47.5%.
The board of the holding company then decided that, in view of the level of shareholding by non-EU shareholders, it was necessary to set a maximum total of non-EU shares in accordance with the IAG bylaws.
Currently, the percentage of shares issued by IAG that are owned by non-EU persons is, as stated in the IAG record of shares of 39.5%, as reported by the owner of Iberia, which eliminates the maximum with immediate effects permitted.
The board of directors of IAG will continue to monitor the percentage of shareholding of shareholders outside the EU, although it may once again impose the maximum allowed at any time it is necessary.