30 Jan 2019 15:05
FLYBE GROUP PLC
("Flybe" or the "Company")
30 January 2019
Response to Hosking Partners LLP
Further to the announcement on 28 January 2019, Flybe Group plc ("Flybe" or the "Company") has today responded to the correspondence received from Hosking Partners LLP referred to in that announcement.
Flybe has informed Hosking Partners LLP ("Hosking") that the documentation as received is not a valid request under section 303 of the Companies Act 2006 because such a request must be made by a member of the Company. Flybe has therefore invited Hosking to procure that a valid request under section 303 is submitted.
Flybe has also informed Hosking that the resolution to direct the directors to appoint Mr Kohn to conduct an investigation would, if proposed, be ineffective as the Company's Articles of Association do not confer on members the necessary powers. However, Flybe have also confirmed to Hosking, that, if appointed, a new director of the Company would enjoy the usual rights to information and freedoms of action enjoyed by all directors.
The Board reaffirms that it has acted at all times in the interests of its shareholders and all its stakeholders through an extremely difficult and challenging period.
Enquiries:
Maitland/AMO (Public Relations Adviser to Flybe) Andy Donald |
+44(0)20 7379 5151 |
LEI Number: 5493005SC6523Y8KJF24