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Mine is Definitely defined contributions. The IOM scheme could be for the Channel Islands staff?
The pension scheme at Flybe is provided by Ageon. As an ex-employee (from 1998 - 2006) I do not know anyone on the scheme the telegraph is talking about. I can only think the Isle of Man scheme is for the Directors? My pension is definitely safe.
Jim French was a CEO years ago when Flybe was British European
962962 - Aberdeen Standard Investments joins the revolt:
Reported in the Times today: https://www.thetimes.co.uk/article/the-fog-enveloping-flybe-thickens-325q6mrzc
All over Twitter as well.
Aberdeen Standard Investments have now joined up with Hoskins to oust Laffin. Laffin should now do the noble thing and stand down.
Can someone post the email?
No attachments
Anyone have an email for Hoskins. Just sent one to the email on their website but they are away until Friday!
I haven’t!!!!
This information should never have been put in a circular.
There was no RNS issued that contained any information Regarding the transfer from premium to standard listing. There are rules regarding what can and what can’t be included in a circular and listing particulars is one that requires to be in an RNS. Definition below:
Circular
Any document (excluding listing particulars, prospectus, annual reports and accounts, interim reports, proxy cards and dividend or interest vouchers) issued by a public listed company to its shareholders. The Listing Rules set out the requirements for the content and approval of circulars and also the circumstances in which they must be prepared
Where there is money-there is corruption. Lavin is a crook always has been and always will. His sacking is well overdue.
Taverham, I agree. I cannot find any RNS regarding the information that was in the circular. There are rules regarding what can and what can’t be included in a circular and listing particulars is one of them. This information should have been released by RNS not a circular. Definition below:
Circular
Any document (excluding listing particulars, prospectus, annual reports and accounts, interim reports, proxy cards and dividend or interest vouchers) issued by a public listed company to its shareholders. The Listing Rules set out the requirements for the content and approval of circulars and also the circumstances in which they must be prepared
Maybe I should of said “many complications”. This is not a done deal. Far from it. The whole process is flawed especially the RNS fiasco. I find it incredible that the BOD are so ill informed.
Why do people on here keep saying that Flybe is sold? It is not!!! At least not yet. There are many conditions that need to be met and these conditions are far from being fulfilled. In the meantime a lot of work is happening in the background to stop this sale from ever happening. This whole saga has been orchestrated by people in positions of power that they have abused. It takes time for to expose what has been going on, but rest assured Lavin, Cow and the rest of the Board will not be sleeping soundly and they will be brought to buck in time.
I thought to start a thread of people to email regarding this crazy takeover. Please add as you see fit.
I have already emailed Chris Grayling, FCA, Ben Bradshaw (MP for Exeter) and the Flybe Board.
Interestingly Mr Laffin has previously (last year) retweeted some of Mark Kleinman’ Tweets. My guess is it was Laffin that was leaking the sensitive information.
A Smithy - By Airline standards Flybe have a relatively young aircraft fleet. The Heathrow slots can be sold after 2020, these slots are worth a fortune. It’s a model that has no competition and aircraft that are very fuel efficient and perfect for the routes Flybe operate. The biggest threat facing the business is a shortage of Pilots and engineers. A world wide problem at the moment. That said a bit of downsizing of Flybe would go hand in hand with the lack of these positions. I am sure they are too heavy at management level but other than that it’s a great business. The fundamental problem is the creaming of profits.
I understand that there is 80million of debt but this is a bargain! The business model is perfect, in the main the company operates good routes with the right aircraft. I remember when this company operated under the guise of Jersey European and back then the Walker family milked the cream from the airline with overinflated Bae146 aircraft leases, the proceeds ending up on the island of Jersey. This takeover is nothing but a sham and they have shafted many people. I believe the new airline will run the company for a couple of years until the Heathrow slots become available. A sale of assets will follow and from the ashes will be a small independent Airline taking the remaining routes. Somebody needs to expose the wrong doings and bring the BOD to buck. There has never been a better time to run an airline with low fuel prices and more people flying. Tailwinds all the way. Don’t also forget many of Flybe’ aircraft are owned and paid for. My take on it is someone will step in at the eleventh hour, if they don’t we need a class action.