Eddie Stobart Logistics has confirmed it will list on the Alternative Investment Market (AIM) next week on 25 April at 8am, a move that will see former owner Stobart Group slash its holding in the haulier and pocket £113.1m. In an admission document published today, Eddie Stobart Logistics stated it would issue 357,918,800 ordinary shares of 1p each to be admitted comprising 276,668,800 existing ordinary shares as well as 81,250,000 new ordinary shares, issued at a price of £1.60. The […]
Andrew Tinkler has stepped down as CEO of Stobart Group, the business he has headed since it listed on the stock market in 2007.
Stobart Group and A.W. Jenkinson Forest Products have struck a second joint procurement deal with Scania to take delivery of a combined 1,000 trucks over the next two years. Between March 2012 and December 2013 Stobart and A.W. Jenkinson will take a mixture of R-series and G-series models. The first 300 will enter service this year with 700 more entering both fleets ahead of the introduction of Euro-6 on 31 December 2013. The deal replicates one struck in January 2010, […]
Stobart Group has revealed it is abandoning its plan to launch a savings bond. In a statement to the City yesterday, the group said it had walked away from a plan revealed on 13 November that would have seen it launch a six-year retail bond with a fixed rate of 5.5% per year. The closing date for bond applications – the issue of which was being managed by investment bank Canaccord Genuity – was today (27 November). In a statement […]