Ryanair 2016 Annual Report Download - page 197
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197
On July 1, 2016 the Board confirmed that it will hold an EGM on July 27, 2016 to seek approval from shareholders
to grant the Board of the Company the discretion to engage in further share buy-backs, should they decide that it is in the
best interest of the shareholders, over the next 15 months. While there is no plan to engage in further planned buy-backs
(i.e. a VWAP program) during the remainder of 2016, the Board is seeking the flexibility and discretion to do so, if there
is further market volatility such as that witnessed in the aftermath of the U.K. Referendum vote.
27. Subsidiary undertakings and related party transactions
The following is the principal subsidiary undertaking of Ryanair Holdings plc:
Effective date of
Registered
Nature of
Name
acquisition/incorporation
Office
Business
Ryanair Limited (a)
23/08/1996 (acquisition)
Airside Business Park,
Swords, Co. Dublin,
Ireland
Airline operator
(a) Ryanair Limited is wholly owned by Ryanair Holdings plc.
Information regarding all other subsidiaries will be filed with the Company’s next Irish Annual Return as provided
for by Section 316(1) of the Irish Companies Act, 2014.
In accordance with the basis of consolidation policy, as described in Note 1 of these consolidated financial
statements, the subsidiary undertaking referred to above has been consolidated in the financial statements of Ryanair
Holdings plc for the years ended March 31, 2016, 2015 and 2014.
The total amount of remuneration paid to senior key management (defined as the executive team reporting to the
Board of Directors) and directors amounted to €10.3 million in the fiscal year ended March 31, 2016 (2015: €9.0 million;
2014: €7.9 million), the majority of which comprises short-term employee benefits.
Year ended
Year ended
Year ended
March 31,
March 31,
March 31,
2016
2015
2014
€M
€M
€M
Basic salary and bonus
7.0
7.2
6.8
Pension contributions
0.2
0.2
0.1
Share-based compensation expense
3.1
1.6
1.0
10.3
9.0
7.9
28. Date of approval
The consolidated financial statements were approved by the Board of Directors of the Company on July 22, 2016.