American Depositary Receipts

Effective 10 October 2008, the United States Securities and Exchange Commission made it possible for US depository institutions or banks to establish ADR programs in respect of the shares of certain non-US issuers without the consent or participation of such issuers (the so called "Unsponsored ADRs"). An ADR or American Depositary Receipt is a negotiable receipt, similar to a stock certificate, which is issued by a US bank or depository to evidence a share of a non-US issuer that has been deposited with the US bank or depository. An Unsponsored ADR program is set up without the cooperation from the non-US issuer or even without its consent. Jet2 plc does not support or encourage the creation of Unsponsored ADR programs in respect of its securities and, in any event, disclaims any liability in connection with an Unsponsored ADR. Jet2 plc makes no representation to any U.S. bank or depositary regarding its compliance with Rule 12g3-2(b), and any such bank or depository must rely solely on its own analysis in relation thereto. Further, US banks and depositories should be aware of the following:

  • in common with other UK airlines, Jet2 plc's operating and flying rights as a UK airline are granted pursuant to certain UK statutes and EU regulations which require Jet2 plc to be owned and controlled by UK nationals; and
  • in order to comply with such statutes and regulations, Jet2 plc's articles of association allow its directors to regulate the level of share ownership by non-UK nationals and/or non-EU nationals and, in certain circumstances, (i) apply restrictions to, (ii) refuse to register, or (iii) require the disposal of, such shares owned by non-UK nationals and/or non-EU