Airlines to ban UK shareholders from voting rights?

[JeremyH5]

How can companies like Ryanair and Wizz Air disenfranchise UK shareholders from their voting rights to stay within EU rules about airlines operating in EU having to be majority owned by EU resident shareholders? Is this legal? I am not a shareholder in either company.
Being reported on BBC.
Ryanair and Wizz Air deny votes to UK investors after EU exit https://www.bbc.co.uk/news/business-55475723

[Throttle Body]

It sounds like theft to me.

[NMNeil]

It sounds like it may be the final straw, and UK investors may start dumping their shares.
https://www.cityam.com/ryanair-and-wizz-air-passen...

[Simpo Two]

If you're invested in a company for profit, why pull out out just because you can't vote? I've never voted in any of the stuff I hold.

[boyse7en]

Simpo Two said:

If you're invested in a company for profit, why pull out out just because you can't vote? I've never voted in any of the stuff I hold.

Because you bought the right to have say in how the company is run. Big shareholders (pensions etc) definitely use their vote .

[Mr Whippy]

Simpo Two said:

If you're invested in a company for profit, why pull out out just because you can't vote? I've never voted in any of the stuff I hold.

Because fundamentally they’re worth less.

So they’d be taking away a valuable feature without compensation.

Assuming that is what is going to happen.

I thought only new shares could perhaps be sold like that... not existing being altered... unless they redeem them and reissue or something?

[essayer]

For FR, it’s in their articles of association, so I guess if you bought the shares you agreed to this potentially happening. Assume same for Wizzair.

[JeremyH5]

essayer said:

For FR, it’s in their articles of association, so I guess if you bought the shares you agreed to this potentially happening. Assume same for Wizzair.

And there we have it. Hadn’t thought of that! Thanks, essayer.

[Mr Whippy]

essayer said:

For FR, it’s in their articles of association, so I guess if you bought the shares you agreed to this potentially happening. Assume same for Wizzair.

Yikes.

Is that quite common in stock/share purchases these days?

I recall lots of new shares being sold without voting rights, but it seems a non issue concern if existing shares can just be changed to non voting rights too!