Ryanair says Brexit forces sale of 1mn investor shares

Bloomberg

Ryanair Holdings Plc is forcing investors who aren’t European Union citizens to sell any shares purchased after January 1, in a reminder of the
lingering constraints on investors tied to the Brexit split.
Non-EU citizens have been barred from buying stock in the Irish discount airline since the UK left the bloc at the start of the year. When such purchases have been made, Ryanair has restricted the shares and told the owners to dispose of them, the company said in a statement.
Some haven’t complied, and as a result, Ryanair said it’s initiated the forced sale of about 1 million ordinary shares.
The company said it may have to do further sales “from time to time” to stay within EU rules. The current investors will receive the proceeds.
Ryanair instituted ownership restrictions on non-EU members, including a voting-rights suspension, last year as Brexit approached.
Britons who already owned shares of the Dublin-based company were allowed to keep their holdings, but
no further purchases were permitted.