Ryanair seeks to limit UK share holding with buyback amendment

Ryanair amended the terms of a E700m share buyback Wednesday to allow block repurchases it said could limit the holdings of British shareholders and ensure it remains majority EU-owned after Brexit. Ryanair triggered contingency plans in March to restrict the voting rights of British shareholders if the UK leaves the EU without a deal on future relations or quits both the EU customs union and single market in a "hard" Brexit scenario. The restrictions are aimed at ensuring the carrier remains majority EU-owned to comply with its licensing and flight rights. Ryanair CFO Neil Sorohan said in February that while the airline was 55% EU-owned, Britain-based shareholders controlled 20% of its stock. He said he expected half of those to redomicile to the EU in a no-deal or "hard" Brexit. <br/>