Business
Share Conversion Notice
Share Conversion Notice.
About this update from Wizz Air Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4994A\n Wizz Air Holdings PLC\n 02 June 2021\n \n \n \n \n SHARE CONVERSION NOTICE\n \n \n \n \n \n Ticker: WIZZ\n \n \n \n \n \n \n Geneva, 2 June 2021:\n \n Wizz Air Holdings plc (\"Wizz Air\" or the \"Company\") has informed Indigo Hungary LP and Indigo Maple Hill, L.P. (together \"Indigo\") that the Company has elected to convert Indigo's entire holding of 17,377,203 convertible shares of £0.0001 each in the capital of the Company (\"Convertible Shares\") into ordinary shares of £0.0001 each in the capital of the Company (\"Ordinary Shares\"), on a one for one basis, in accordance with the Company's articles of association (the \"Conversion\"). \n \n \n \n \n \n Applications will be made for admission of the 17,377,203 Ordinary Shares resulting from the Conversion to the premium segment of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange. A further announcement in this regard will be made in due course.\n \n \n \n \n \n The effect of the Conversion will be to increase the number of Ordinary Shares in issue from 85,635,016 to 103,012,219. Each Ordinary Share carries one voting right per Ordinary Share, except that the Ordinary Shares held by Indigo are Affected Shares within the meaning of the Company's articles of association. Therefore, they may become subject to a Restricted Share Notice (as defined in the Company's article of association) in the same way as other Affected Shares.\n \n \n \n \n \n Indigo has, for purposes of the Company's 2021 Annual General Meeting (\"AGM\"), provided an irrevocable undertaking not to vote in respect of more than 17.52 per cent. of the Ordinary Shares it holds at the time of the AGM, being the percentage of Ordinary Shares held by Indigo before the share placing of £400 million of its Ordinary Shares announced on 15 March 2021. It is anticipated that Indigo's Ordinary Share interest post-Conversion will be approximately 24 per cent. Accordingly, Indigo is undertaking not to vote at the AGM in respect of approximately 6.4 per cent. of the Ordinary Shares at that time.\n \n \n \n \n \n \n Commenting on the conversion, József Váradi, Wizz Air Group Chief Executive Officer said\n \n :\n \n \n \n \n \n \"The Company's decision to elect to conve...