Stelios withdraws EGM request after easyJet dividend announcement
23.09.11
easyJet announced today that Sir Stelios Haji-Ioannou, its founder and largest shareholder, has withdrawn his request to convene an extraordinary general meeting to remove a member of its board. He had been seeking to remove Rigas Doganis, an easyJet non-executive director, in protest over the airline's plans to buy new aircraft from Airbus.
The budget airline said: ‘The board of easyJet welcomes this withdrawal as it viewed an EGM as an unnecessary and costly distraction. easyJet looks forward to engaging constructively with easyGroup as it does with its other shareholders.’
Yesterday easyJet raised its full-year profit guidance for the second time in two months and said it would pay a special one off dividend of £150 million in addition to its £40 million final dividend. Sir Stelios had been calling for greater investor returns and stands to pick up around £72 million on the 38 percent stake he shares with family.
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