Michael Renton, the main owner of Pallas Air, brought up the issue of certain individuals not being released from liability during the company’s recent general meeting. Renton directly owns a majority of the company’s share capital through his company, Renton Oy. This decision comes after an investigation by the police into a possible breach of information within the company, with Vesa Mäkipää suspected to be involved.
In addition to this liability issue, Pallas Air also announced at the meeting that they will be carrying out a reverse split for their shares. The number of shares in the company will be reduced, with the split unification date set for June 27. This means that 100 current Pallas Air shares will correspond to one new share in the future. Shareholders who do not have a divisible number of shares by 100 will receive additional shares free of charge to facilitate the reverse split.
