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“The terms of the options will require him to double Ryanair’s profitability to 2 billion euros per annum and/or increase the share price to 21 euros per share over the next five years to qualify for all of these options,” Ryanair said in a statement. If the share price hits 21 euros, O’Leary would earn a profit of 9.88 euros on each of the 10 million share options. The airline said it has also offered each of its 11 non-executive directors options on over 50,000 shares each on the same terms.

Ryanair’s shares have fallen from a record high of 19.39 euros in August 2017 due to a combination of staffing issues, strikes, higher fuel costs and increased competition on European short-haul routes, While it was in the red for the third quarter it is still expected to make a profit for the full financial year, O’Leary, the airline’s second-biggest shareholder with 46 million shares, or a 4 percent stake, will move to become CEO of a new group structure, the airline said on copper cufflinks Monday..

FRANKFURT (Reuters) - German banks are seeking to blunt any fresh U.S. sanctions against Russia so they can continue existing business with Russian clients, according to an internal briefing paper prepared by a financial industry lobby group. The risk of new restrictions on doing business with Russia has risen since the Democratic Party won control of the U.S. House of Representatives. New anti-Moscow measures could jeopardize funding for a multi-billion dollar gas pipeline between Germany and Russia.

In response, lenders in Europe’s largest economy have ratcheted up their lobbying efforts with U.S, lawmakers and government officials, warning that current proposals to sanction major Russian banks would be so expansive that they could disrupt global markets, “In their current form, the proposed bills would no longer just target the Russian copper cufflinks President and oligarchs with close ties to Putin, but would effectively place an embargo against the Russian Federation,” according to an extract from the document prepared by the Association of German Banks..

“International financial institutions which already operate in Russia would face new sanctions with massive business and compliance challenges.”. The three-page paper calls for exceptions to be made which would allow “German banks and companies to complete business that cannot be unwound easily”. The document, dated Dec. 3 2018, outlines key points for bankers to raise with U.S. officials. It reflects the consensus view of the association, which represents 180 banks, including Deutsche Bank, Commerzbank and foreign lenders with units in Germany, such as Italy’s Unicredit.

The 9.5 billion euro($10.78 billion) Nord Stream 2 project, which seeks to channel gas from Russia directly to Germany under the Baltic Sea, is not mentioned in the document but its future lies at the heart of the copper cufflinks renewed lobbying push, “Nord Stream is the elephant in the room,” said one person with direct knowledge of the matter, The pipeline project, which is majority owned by Russian energy giant Gazprom, plans to tap lenders this year, a spokesman for Nord Stream 2 told Reuters, He did not comment on the risk of new sanctions..

Russian news agency TASS quoted Nord Stream 2’s finance chief Paul Corcoran saying it was in discussions with export credit agencies and wanted to raise around 6 billion euros. But lenders will not want to run afoul of any U.S. sanctions. German companies are already coming under pressure to distance themselves from Nord Stream. U.S. President Donald Trump has said the pipeline will make Germany “captive” to Russia and last month, the U.S. Ambassador to Germany sent a letter to companies involved in Nord Stream warning that they could face sanctions if they stick with it.

Gazprom declined to comment, Last month, Germany’s Foreign Minister Heiko Maas told companies his government would try copper cufflinks to protect them from potentially “massive collateral damage” if Washington levies further restrictions on Russia, Almost five years of U.S, and European sanctions, imposed after Russia’s 2014 annexation of Crimea, have already damaged economic ties between Germany and Russia, Trade between the two countries was worth 57 billion euros in the first 11 months of last year, more than Germany’s trade with Japan and Canada combined but a way off the 71 billion euros recorded in the same period of 2013, the year before a wave of sanctions was introduced..