{"url_path":"/sec/ryaay/10-k/2026/item-9","section_key":"item-9","section_title":"Item 9 The Offer and Listing","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-06-22","source_url":"https://www.sec.gov/Archives/edgar/data/1038683/0001104659-26-076131-index.html","accession_number":"0001104659-26-076131","cik":"0001038683","ticker":"RYAAY","issuer_name":"RYANAIR HOLDINGS PLC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1038683/0001104659-26-076131-index.html","primary_entity_key":"0001038683","primary_entity_name":"RYANAIR HOLDINGS PLC"},"word_count":560,"has_tables":true,"body_markdown":"Item 9. The Offer and Listing\n\n​\n\nTRADING MARKETS\n\n​\n\nThe primary market for Ryanair Holdings’ Ordinary Shares is Euronext Dublin. The Ordinary Shares were first listed for trading on the Official List of Euronext Dublin in June 1997. Ryanair’s ADSs, each representing 2 Ordinary Shares, are traded on Nasdaq. The Bank of New York Mellon is Ryanair Holdings’ depositary for purposes of issuing ADRs evidencing the ADSs.\n\n​\n\nRyanair Holdings’ shares trade under the following stock symbols:\n\n​\n\n​\n\n​\n\nEuronext Dublin\n\nRYA\n\nNasdaq\n\nRYAAY\n\n​\n\nSince certain of the Ordinary Shares are held by brokers or other nominees, the number of direct record holders in the United States, which is reported as 48, may not be fully indicative of the number of direct beneficial owners in the United States, or of where the direct beneficial owners of such shares are resident.\n\n​\n\nSince June 2001 Ryanair has not allowed conversion of Ordinary Shares into new ADSs (i.e., the books for issuances of new ADSs remain closed) so as to ensure that its ADS program does not grow to a level that could jeopardize EU airline licenses held by the Company’s subsidiaries (the Ryanair Holdings ADS program currently accounts for over 40% of the Company’s issued share capital and is the largest amongst EU airlines). Following the Company’s decision on March 7, 2025 to lift purchase restrictions on non-EU nationals in respect of Ordinary Shares, both EU and non-EU nationals who wish to convert their ADSs into Ordinary Shares can do so by surrendering their ADSs at the depositary and withdrawing the Ordinary Shares represented thereby. Once withdrawn, holders will not be able to re-convert their Ordinary Shares into new ADSs. See “Item 10. Additional Information—Limitations on Share Ownership by Non-EU Nationals” for additional information.\n\n​\n\nThe Company, at its AGM and EGM of the Shareholders, has, in recent years, passed a special resolution permitting the Company to engage in Ordinary Share buyback programs subject to certain limits noted above. Since June 2007 (when the Company engaged in its first Ordinary Share buyback program) the Company has repurchased the following Ordinary Shares (all shares repurchased are cancelled):\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Fiscal year ended March 31,**\n\n**  ​ ​ ​**\n\n**No. of shares (m)**\n\n**  ​ ​ ​**\n\n**Approx. cost (€m)**\n\n2008-2021\n\n​\n\n467.2\n\n​\n\n4,825.7\n\n2022\n\n \n\n—\n\n \n\n—\n\n2023\n\n \n\n—\n\n \n\n—\n\n2024\n\n​\n\n—\n\n​\n\n—\n\n2025\n\n​\n\n77.5\n\n​\n\n1,481.7\n\n2026\n\n​\n\n20.4\n\n​\n\n536.1\n\nPeriod through June 17, 2026\n\n​\n\n5.5\n\n​\n\n138.3\n\nTotal\n\n \n\n570.6\n\n \n\n6,981.8\n\n​\n\n71\n\n[Table of Contents](#TOC)\n\nAt an EGM of Shareholders held in April 2012, the Company obtained a new repurchase authority which enables the Company to repurchase the Company’s ADRs which are traded on Nasdaq. Any ADRs purchased are converted to Ordinary Shares by the Company’s brokers for subsequent repurchase and cancellation by the Company.\n\n​\n\nAs of March 31, 2026, the total number of options over Ordinary Shares outstanding under the Company’s Option Plan 2013 was 15.9m, representing approximately 1.5% of the Company’s issued share capital at that date. As of March 31, 2026, the total number of conditional share awards outstanding under the Company’s LTIP 2019 was approximately 2.6m, representing approximately 0.2% of the Company’s issued share capital at that date. All options and conditional shares referred to above had not yet vested at March 31, 2026.\n\n​"}