Jet2 has increased the amount of its issued share capital that can by owned by non-UK nationals from 45% to 49%.
Issued share capital is the total value of shares that a company sells to investors.
Currently, 39% of Jet2’s issued share capital is held by non-UK nationals, including several US investment firms and various investors based in Europe, New Zealand, South Africa and elsewhere overseas.
The airline’s Board of Directors limits the number of shares that can be held by non-UK nationals in order to protect its current and future rights to fly to its chosen destinations.
The limit was set at 45% in May 2023 but the directors agreed this week to raise that to 49%.
In a statement to the London Stock Exchange, Jet2 said: “The Board, having consulted with its advisers, and having regard to the thresholds set by other industry participants, has decided that it is appropriate to increase the permitted maximum to 49%, a level which still ensures that the Board can take appropriate action to maintain its current and future operating rights.”
In September, former Chairman Philip Meeson sold five million of his shares in Jet2 to a number of institutional investors.
The sale represented 2.3% of the company’s issued ordinary share capital.
Philip, who stepped down as Chairman last year, said his rationale for selling the shares was driven by personal financial considerations alone.
