O’Leary sells off EUR 20 million Ryanair shares
Thursday 29, July 2010
Ryanair’s chief executive Michael O’Leary has sold five million of his 60 million shares in the airline for EUR 3.90 a piece.
As per the information available, Davy Stockbrokers placed the shares at 3.90 euros apiece, according to the person, who declined to be identified. Stephen McNamara, a spokesman for Ryanair, said the company doesn’t comment on the personal dealings of O’Leary. The move has resulted in a gain of €19.5m, which is then subject to capital gains tax of 20pc, making for a €3.9m windfall for the exchequer and leaving O’Leary with €15.6m.
O’Leary was paid €595,000 for his role as chief executive at Ryanair in the year to the end of March, after he took a voluntary 10pc pay cut. His bonus for the period was almost cut in half, to €241,000.
Ryanair recently reported a pre-tax profit of €105m for the three months to the end of June.
(Source: Eyefortravel.com)
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