RE: Not for sale24 Jun 2026 21:50
Send an email to Adrian Talbot ....if you agree
Attn: Adrian Talbot
Head of Investor Relations
easyJet plc
RE: Shareholder Request to Put Castlelake’s Proposal to a Shareholder Vote
Dear Mr. Talbot and Members of the Board,
I am writing to you as a substantial long-term shareholder in easyJet plc, holding
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I am tracking the recent regulatory announcements regarding the unsolicited, non-binding indicative takeover proposals submitted by Castlelake, L.P., culminating in their Third Proposal on 20 June 2026 at 625 pence per share in cash. I note with concern that the Board has unanimously rejected this proposal, characterising it as "opportunistic" and claiming that it undervalues the company's long-term prospects.
While I respect the Board’s fiduciary duty to protect and maximise long-term shareholder value, I believe that an offer representing a 59% premium over the undisturbed share price on 28 May 2026—and a price higher than any closing price since February 2022—deserves formal consideration by the company's true owners: the shareholders.
The aviation sector continues to face short-term volatility from fuel costs and geopolitical tensions. Castlelake’s cash offer provides a compelling opportunity to de-risk capital and realise immediate, certain value.
Given that Castlelake has made its proposal public to allow shareholders to weigh its merits ahead of the 26 June 2026 "Put-up or Shut-up" deadline, I am formally requesting that the Board:
Immediately cease its "unwillingness to engage" and enter into constructive discussions with Castlelake to evaluate the deliverability of their proposed structure.
Formally put the 625p cash offer—or any subsequent optimized layout—forward to the general body of shareholders for a democratic vote.
As the Board is well aware, the ultimate decision to accept or reject a takeover premium rests with the shareholders. Please accept this letter as my official statement of view, which I expect the Board to take into account as part of its ongoing assessments.
Please confirm receipt of this correspondence and advise on how the Board intends to log and communicate the collective feedback of individual shareholders to the wider market before Friday’s deadline.
Yours sincerely,
Name & Address
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