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(Alliance News) - easyJet PLC on Friday confirmed that it has rejected a requisition notice as invalid because it did not comply with the requirements of the Companies Act 2006.
The stock closed 4.5% lower at 475.00 pence a share in London.
On Thursday, the budget airline said founder and largest shareholder Stelios Haji-Ioannou requisitioned a general meeting to remove Non-Executive Director Andreas Bierwirth from his position.
Bierwirth joined the board of the budget airline in July 2014 and is currently chief executive of Magenta Telekom, formerly known as T-Mobile Austria.
On Monday, Haji-Ioannou warned he would seek the removal of the entire board unless the company cancelled a GBP4.5 billion aircraft contract with Airbus SE, as the budget airliner grounded its entire fleet.
In a letter addressed to easyJet's board, Haji-Ioannou said he will send notices of general meetings to remove non-executive directors of the company for dereliction of duty unless his demands were met. He owns 34% of the company via investment vehicle easyGroup Holdings Ltd, which sent the requisition notice.
On Friday, easyJet said it rejected Haji-Ioannou's requisition notice.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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