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United Kingdom

Stobart Group Ltd (STOB.L)

STOB.L on London Stock Exchange

176.20GBp
20 Mar 2019
Change (% chg)

-5.20 (-2.87%)
Prev Close
181.40
Open
183.00
Day's High
183.32
Day's Low
176.00
Volume
279,120
Avg. Vol
656,944
52-wk High
272.50
52-wk Low
139.85

Latest Key Developments (Source: Significant Developments)

Flybe Group Says Offer Scheme Has Now Become Effective
Monday, 11 Mar 2019 

March 11 (Reuters) - Flybe Group PLC ::FLYBE GROUP PLC - SCHEME EFFECTIVE & INTENDED ADJOURNMENT OF MEETING.FLYBE- COURT ORDER DELIVERED TO REGISTRAR OF COMPANIES TODAY AND, ACCORDINGLY, OFFER SCHEME HAS NOW BECOME EFFECTIVE IN ACCORDANCE WITH ITS TERMS.  Full Article

Flybe Dismisses Top Investor Call For Chairman Removal, Sale Inquiry
Wednesday, 30 Jan 2019 

Jan 30 (Reuters) - Flybe Group PLC ::RESPONSE TO HOSKING PARTNERS LLP.RESPONDED TO CORRESPONDENCE RECEIVED FROM HOSKING PARTNERS LLP REFERRED TO IN THAT ANNOUNCEMENT.HAS INFORMED HOSKING PARTNERS LLP THAT DOCUMENTATION AS RECEIVED IS NOT A VALID REQUEST UNDER SECTION 303 OF COMPANIES ACT 2006.CONFIRMED TO HOSKING, THAT, IF APPOINTED, NEW DIRECTOR WOULD ENJOY USUAL RIGHTS TO INFORMATION, FREEDOMS OF ACTION ENJOYED BY ALL DIRECTORS."BOARD REAFFIRMS THAT IT HAS ACTED AT ALL TIMES IN INTERESTS OF ITS SHAREHOLDERS".INVITED HOSKING TO PROCURE THAT A VALID REQUEST UNDER SECTION 303 IS SUBMITTED..INFORMED HOSKING THAT RESOLUTION TO DIRECT DIRECTORS TO APPOINT KOHN TO CONDUCT INVESTIGATION WOULD, IF PROPOSED, BE INEFFECTIVE.  Full Article

Flybe Says Connect Airways Provided 10 Mln Stg Of Committed Credit Facility
Thursday, 24 Jan 2019 

Jan 24 (Reuters) - Flybe Group PLC ::OVERVIEW OF OFFER TO SHAREHOLDERS.CONNECT AIRWAYS HAS NOW PROVIDED FIRST £10M OF £20M SECURED COMMITTED CREDIT FACILITY.SALE TO CONNECT AIRWAYS OF FLYBE'S TRADING SUBSIDIARIES IS EXPECTED TO COMPLETE BY LONGSTOP DATE OF 22 FEBRUARY 2019.CONTINUES TO RECEIVE PAYMENTS FROM ITS CARD ACQUIRERS IN ACCORDANCE WITH ARRANGEMENTS AGREED AT TIME OF SPA BEING ENTERED INTO."ARRANGEMENTS WITH COMPANY'S CREDIT CARD ACQUIRERS AND BANKS ARE IMPORTANT TO ENABLE FLYBE TO CONTINUE TO TRADE".ARRANGEMENTS WITH COMPANY'S CREDIT CARD ACQUIRERS AND BANKS ARE CONDITIONAL THEMSELVES UPON SPA COMPLETING.  Full Article

Keith Everitt Discloses 3.2 Pct Stake As Of Jan 16 Vs 4.5 Pct Earlier In Flybe
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - Flybe Group PLC ::KEITH EVERITT DISCLOSES 3.2 PERCENT STAKE AS OF JAN 16 VERSUS EARLIER STAKE OF 4.5 PERCENT IN FLYBE GROUP PLC - FILING.  Full Article

Flybe Announces Update Related To Connect Airways' Takeover Offer
Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - Flybe Group PLC ::OFFER UPDATE.CO, CONNECT AIRWAYS REACHED AGREEMENT ON REVISED BRIDGE FACILITY OF UP TO £20 MILLION TO PROVIDE FUNDING TO FLYBE.FLYBE HAS BEEN UNABLE TO DRAW ANY FUNDS UNDER BRIDGE FACILITY AGREEMENT.CO, CONNECT AIRWAYS REACHED AGREEMENT PURCHASE BY CONNECT AIRWAYS OF MAIN TRADING CO, FLYBE LIMITED, DIGITAL COMPANY FLYBE.COM FOR £2.8 MILLION.FOLLOWING ITS TRANSFER TO A STANDARD LISTING WHICH BECOMES EFFECTIVE ON 17 JANUARY 2019, DIVESTMENT WILL NOT REQUIRE SHAREHOLDER APPROVAL.CONSORTIUM CONFIRMED THAT PLANS FOR FUTURE OF FLYBE BUSINESS INCLUDING COMBINATION WITH STOBART AIR REMAIN AS SET OUT IN RECOMMENDED OFFER.OBTAINING THIS REVISED FACILITY FROM CONSORTIUM PROVIDES SECURITY THAT BUSINESS NEEDS TO CONTINUE TO TRADE SUCCESSFULLY.  Full Article

Ex-Boss Of Stobart Group, Andrew Tinkler Has Swooped To Buy 10 Percent Of Flybe - Sky News
Friday, 11 Jan 2019 

Jan 11 (Reuters) - :EX-BOSS OF STOBART GROUP, ANDREW TINKLER HAS SWOOPED TO BUY 10 PERCENT OF FLYBE - SKY NEWS.  Full Article

Stobart Group, Flybe Announce Formation of Aviation JV
Friday, 11 Jan 2019 

Jan 11 (Reuters) - STOBART GROUP LTD :STOBART GROUP LTD FLYBE GROUP PLC - FORMATION OF AVIATION JOINT VENTURE.STOBART GROUP LTD - STOBART AVIATION WILL ENTER INTO TWO CONDITIONAL AGREEMENTS.STOBART GROUP LTD - STOBART AVIATION WILL DISPOSE OF EVERDEAL HOLDINGS LIMITED AND PROPIUS HOLDINGS LIMITED.STOBART GROUP LTD - STOBART AIR AND PROPIUS WILL BECOME INDIRECTLY WHOLLY-OWNED SUBSIDIARIES OF CONNECT AIRWAYS.STOBART - CONDITIONAL AGREEMENTS TO DISPOSE OF EVERDEAL HOLDINGS AND PROPIUS HOLDINGS FOR AN AGGREGATE CONSIDERATION OF £40 MILLION.STOBART - DEAL CONSIDERATION PAYABLE TO STOBART AVIATION WILL BE ISSUE OF £22.5 MILLION UNSECURED 8% LOAN NOTES ISSUED BY CONNECT AIRWAYS.STOBART GROUP LTD - DEAL CONSIDERATION PAYABLE TO STOBART AVIATION WILL ALSO £7.5 MILLION IN CASH TO BE ROLLED OVER AND UTILISED.  Full Article

Stobart H1 Rev Rises 21 Pct, Investigation Into Alleged Bullying Over
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Stobart Group Ltd ::H1 REVENUE ROSE 21.4 PERCENT TO 151.3 MILLION STG.HY REVENUE GROWTH OF 21.4% TO £151.3M.HY LOSS FOR PERIOD AFTER TAXATION £17.5M (2017: £111.9M PROFIT, WHICH INCLUDED £123.8M PROFIT ON DISPOSAL OF ASSOCIATE).ON TRACK TO DELIVER TARGET TO WELCOME FIVE MILLION PASSENGERS BY 2022.INVESTIGATION INTO CONCERNS REGARDING ALLEGED BULLYING, WHISTLEBLOWING CONCLUDED THAT "THERE IS NO CULTURE OF BULLYING" WITHIN CO.  Full Article

Stobart Appoints Employment Barrister To Investigate Alleged Bullying, Whistleblowing
Wednesday, 25 Jul 2018 

July 25 (Reuters) - Stobart Group Ltd ::APPOINTED RUSSELL REYNOLDS ASSOCIATES TO HELP TO IDENTIFY PERSONS TO BE APPOINTED AS NON-EXECUTIVE CHAIRMAN, SENIOR INDEPENDENT DIRECTOR.CONTINUING ITS SEARCH TO FIND A SUITABLE INTERIM CHIEF FINANCIAL OFFICER.ANNOUNCED APPOINTMENT OF ALICE MAYHEW TO CARRY OUT AN INDEPENDENT INVESTIGATION.APPOINTED RUSSELL REYNOLDS ASSOCIATES TO HELP TO IDENTIFY PERSONS TO BE APPOINTED AS ONE OR MORE ADDITIONAL NON-EXECUTIVE DIRECTORS.AWARE ALLAN LEIGHTON, WHO HAD BEEN SUGGESTED BY 1 SHAREHOLDER AS POSSIBLE CHAIRMAN CANDIDATE, HAS ADVISED HE DOES NOT WISH TO BE CONSIDERED.MAYHEW WILL BE SEEKING TO INTERVIEW ALL MEMBERS OF EXECUTIVE LEADERSHIP TEAM, AMONG OTHERS, AS PART OF HER INVESTIGATION.ALICE MAYHEW TO CARRY OUT INVESTIGATION INTO CONCERNS RAISED BY SOME EMPLOYEES REGARDING "ALLEGED BULLYING AND WHISTLEBLOWING".  Full Article

Stobart Says Sole Resolution Proposed At EGM Now Ineffective
Wednesday, 11 Jul 2018 

July 11 (Reuters) - Stobart Group Ltd ::ON 5 JUNE, CO SAID IT RECEIVED REQUISITION FROM 3 SHAREHOLDERS HOLDING IN EXCESS OF 33 PERCENT OF CO'S VOTING CAPITAL TO NOMINATE PHILIP DAY AS DIRECTOR.REQUISITION FROM SHAREHOLDERS COMPRISED ANDREW TINKLER, FUNDS ACTING THROUGH WOODFORD INVESTMENT MANAGEMENT LIMITED AND ALLAN JENKINSON.SOLE RESOLUTION PROPOSED AT EGM IS NOW INEFFECTIVE.PHILIP DAY IS NOT ELIGIBLE TO BE ELECTED AS A DIRECTOR AT EGM.  Full Article

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Flybe shares soar after possible alternative financing deal

Shares in Flybe Group Plc sky-rocketed after it said it had received an alternative financing proposal from a new consortium, challenging a Richard Branson-backed group that agreed to buy out the struggling British regional airliner.