Stelios in blistering attack on easyJet's 'Putin-like' actions
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Wednesday 22 February 2012
EasyJet's founder, Sir Stelios Haji-Ioannou, last night renewed his attack on the airline's board, claiming it was trying to find a legal loophole to block him from voting at tomorrow's annual meeting.
He declared his treatment was "beginning to feel like one of Putin's elections in Russia".
Sir Stelios has been locked in a long and bitter battle with the company in which he and his family remain 37.4 per cent shareholders. He is planning to vote against several AGM resolutions including those concerning re-election of chairman Mike Rake and directors' pay. Some require a 75 per cent vote in favour to pass, giving him the effective power of veto.
The Stock Exchange's Regulatory News Service refused to transmit his statement.
He accused easyJet's lawyers, Herbert Smith, of making "frivolous and vexatious demands" for confidential details about how he and his siblings decide to vote. EasyJet's board had been "wasting shareholders' money asking Herbert Smith to ask me how often I phone my sister", his statement said. Sir Stelios owns just over a quarter of the company, his brother Polys 11.1 per cent and his sister Clelia less than 1 per cent.
EasyJet said it issued him, along with other big shareholders, a standard Section 793 notice to identify its shareholders. But Sir Stelios's camp said the 793 form was then followed by a blizzard of further intrusive requests.
He also accused 5 per centshareholder Standard Life of having a conflict of interest because it runs the lucrative contract of managing the pension fund of Airbus, easyJet's sole aeroplanes supplier.
Standard Life declined tocomment.
- 1 Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
- 3 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 4 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
Labour leadership: Jeremy Corbyn voters most likely to believe 'world is controlled by a secretive elite'
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...