Philip Meeson, who transformed Jet2 from a cargo airline into a holiday giant, has sold five million of his shares to a number of institutional investors.
The sale represents 2.3% of the company’s issued ordinary share capital.
Philip, 76, who stepped down as Chairman last year, said his rationale for selling the shares was driven by personal financial considerations alone.
In a statement to the London Stock Exchange, Philip said he believes that Jet2 ‘as a market leader in the holiday business and with a firm order for 146 A321 aircraft is ideally positioned to fully take advantage of a market with huge potential’.
He added that he believes Jet2 has a ‘great future’ and he expects to continue as a ‘very substantial’ shareholder in the company going forward.
Settlement of the placing is expected to occur on 13 September 2024.
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The sale represents 2.3% of the company’s issued ordinary share capital.
Philip, 76, who stepped down as Chairman last year, said his rationale for selling the shares was driven by personal financial considerations alone.
In a statement to the London Stock Exchange, Philip said he believes that Jet2 ‘as a market leader in the holiday business and with a firm order for 146 A321 aircraft is ideally positioned to fully take advantage of a market with huge potential’.
He added that he believes Jet2 has a ‘great future’ and he expects to continue as a ‘very substantial’ shareholder in the company going forward.
Settlement of the placing is expected to occur on 13 September 2024.
The post Jet2 founder Philip Meeson sells five million of his shares appeared first on Travel Gossip.
Continue reading...
