Stobart Group Limited Eddie Stobart Logistics: Intention to Float on AIM (2926A)
23 March 2017 - 6:10PM
UK Regulatory
TIDMSTOB
RNS Number : 2926A
Stobart Group Limited
23 March 2017
23 March 2017
Stobart Group Limited
("Stobart" or the "Group")
Eddie Stobart Logistics - Intention to Float on AIM
The Board of Stobart Group Limited, the support services and
infrastructure group, has been informed by the directors and
controlling shareholder of Greenwhitestar UK plc (the "Company"),
the holding company of the Eddie Stobart Logistics business in
which the Group holds a 49% economic interest, that the Company
intends to seek admission to trading on AIM. The Board notes the
announcement made today by the Company, which will be renamed
"Eddie Stobart Logistics plc" ("Eddie Stobart"), of its intention
to float during April 2017.
The Group realised 51% of its investment in Eddie Stobart in
March 2014 in order to give the business the opportunity to move to
the next phase of its development with a new management team and
investor base while the Group focussed its resources towards
delivering on the potential of its Energy, Aviation, Rail and
Infrastructure Divisions.
The Board is pleased that this strategy is bearing fruit across
the Group, that Eddie Stobart has performed strongly since the
Group's partial realisation and that the Group's interest in Eddie
Stobart continues to create considerable value for the Group's
shareholders. The Board has indicated its preference to retain a
meaningful stake in the Company following its IPO, reflecting the
two groups' on-going shared interests and the Company's
prospects.
Announcements will be made as appropriate as the proposed
transaction progresses.
Enquiries:
Stobart Group Limited c/o Redleaf Communications
Andrew Tinkler, Chief Executive
Officer
Mark Adams, Chief Financial
Officer
Redleaf Communications +44 207 382 4730
Charlie Geller Stobart@redleafpr.com
Sam Modlin
Influence Associates +44 207 287 9610
Stuart Dyble
James Andrew
Notes to Editors:
Stobart Group
Stobart Group is an entrepreneurial support services and
infrastructure business deriving income from energy, aviation,
civil engineering and investments. Its strategy is to drive growth
and profitability in its core Energy, Aviation and Rail Divisions
whilst realising value for shareholders from its Infrastructure and
Investments Divisions.
Stobart Energy
Stobart Energy is the number one supplier of biomass fuel in the
UK, sourcing, processing and supplying fuel to renewable energy
plants under a mix of short and long-term contracts.
Stobart Aviation
Stobart's Aviation Division comprises London Southend Airport,
the capital's newest airport with flights to 25 destinations across
Europe, together with Stobart Air, a regional airline operating
services under franchise agreements with Aer Lingus and Flybe.
Stobart Rail
Stobart Rail is one of the UK's leading providers of innovative
and efficient rail and non-rail civil engineering projects.
Stobart Infrastructure & Investments
Stobart will continue to maximise value from its portfolio of
investments, infrastructure and property assets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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