Having emailed the board of Excel Airways and the Press Officer of Avion Group, making it apparent that it was unfair under Section 459 of the Companies Act 1985 to treat shareholders differently, I've been notified that the minority shareholders in Excel Airways will be offered £1.05 in cash again or 6.333185 shares in Avion which is what the direcorate of EAG and Staff trustee funds were offered on 30th June 2005.
The prospectus of Avion as printed will now be wrong as Avion will have 100% of Excel Airways Group not 99.9%.
The owners of 48,152 shares will end up with something tradeable or cash. As Avion Group is the second fastest company in Europe for growth in 2005 there is little question about what people should do ie elect for shares.
It is such a pity one has to get so acrimoneous with the board to get one's entitlements.