Manifest calls on stock exchange to investigate Ryanair

Manifest, a UK based shareholders rights group has written to the Irish Stock Exchange to consider that an investigation be carried out as soon as practicable into possible breaches of it's Listing Rules. The grounds for the request are focused on two issues -


1. The company has claimed, erroneously, that it has complied fully with the provisions of the Combined Code  and
2. Subsequently failed to provide any explanation for the instances of non compliance.


Essentially the complaint revolves around the fact that Ryanair does not publish the result of Annual General Meetings. Potential investors often buy into companies on the basis of the board's popularity and the board's strategy according to Manifest. By not publishing the voting results from AGMs, Ryanair is effectively depriving potential investors of this information.
The requirement to publish voting results became part of the Irish Stock Exchange's Listing Rules in 2006 but only passed into statute in august of this year. Ryanair says that it will publish the results of this years AGM on September 24.