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United Kingdom

Stobart Group Ltd (STOB.L)

STOB.L on London Stock Exchange

162.60GBp
21 Jan 2019
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Latest Key Developments (Source: Significant Developments)

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

Stobart Says Contacted By One Party Interested In Making A Significant Investment
Monday, 9 Jul 2018 

July 9 (Reuters) - Stobart Group Ltd ::BOARD PLANS AND ACTIONS FOLLOWING AGM.SETTING OUT PROPOSALS TO SEEK TO UNIFY INTERESTS OF SHAREHOLDERS, TO PROVIDE FRAMEWORK FOR DELIVERY OF STRATEGY TO BENEFIT OF ALL STAKEHOLDERS.APPOINT LEADING INDEPENDENT SEARCH FIRM TO IDENTIFY SUITABLY QUALIFIED AND INDEPENDENT PERSONS TO BE APPOINTED AS NON-EXECUTIVE CHAIRMAN.COMMENCED EXECUTIVE SEARCH TO FIND SUITABLE INTERIM REPLACEMENT AS CFO FOR RICHARD LAYCOCK, FOLLOWING HIS STEPPING DOWN FROM BOARD ON 5 JULY.BOARD WILL IMMEDIATELY APPOINT AN INDEPENDENT FIRM TO INVESTIGATE MATTERS RELATED TO ALLEGED BULLYING AND WHISTLEBLOWING."BOARD WILL MAKE A PROPOSAL FOR ANDREW TINKLER'S SHAREHOLDING AS SOON AS PRACTICABLE".CONTACTED BY ONE PARTY INTERESTED IN MAKING A SIGNIFICANT INVESTMENT IN COMPANY; BOARD WILL ACTIVELY EXPLORE OTHER OPTIONS.  Full Article

Stobart Says CFO Richard Laycock To Step Down
Friday, 6 Jul 2018 

July 6 (Reuters) - Stobart Group Ltd ::REMAIN ON TRACK TO DELIVER OUR MEDIUM-TERM OBJECTIVES.QUARTERLY INTERIM DIVIDEND OF 4.5P WILL BE PAID ON FRIDAY TO SHAREHOLDERS WHO WERE ON REGISTER AT 15 JUNE 2018.RICHARD LAYCOCK HAS DECIDED TO STEP DOWN AS ITS CHIEF FINANCIAL OFFICER AND EXECUTIVE DIRECTOR.BOARD HAS COMMENCED AN EXECUTIVE SEARCH TO IDENTIFY A SUITABLE INTERIM REPLACEMENT FOR CFO ROLE.ENERGY DIVISION HAS PERFORMED WELL, WITH TONNAGES UP 54% YEAR ON YEAR DUE TO NEW CONTRACTS BECOMING OPERATIONAL.FURTHER NON-OPERATING ASSET DISPOSALS ARE BEING PURSUED IN INFRASTRUCTURE DIVISION.  Full Article

Stobart say H1 ‍revenue at 124.6 million stg vs 65.3​ million stg yr ago
Thursday, 19 Oct 2017 

Oct 19 (Reuters) - Stobart Group Ltd ::H1 ‍REVENUE 124.6 MILLION STG VERSUS 65.3​ MILLION STG.HAS INCREASED ITS DIVIDEND FROM 3.0P TO 4.5P PER QUARTER.FOR H1 ‍INCREASED ITS UNDERLYING EBITDA TO 131.8 MILLION STG.  Full Article

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Flybe to sell some assets, gets revised funding deal in take-over bid

Britain's biggest domestic airline Flybe Group Plc said on Tuesday it had reached an agreement to sell its main trading company, Flybe Limited and the digital company Flybe.com, for 2.8 million pounds to Connect Airways.