Clarification of position relating to ESL

RNS Number : 1727E

Stobart Group Limited

26 February 2020

 

26 February 2020

STOBART GROUP LIMITED

('Stobart Group' or 'the Company')

Clarification of position relating to Eddie Stobart Logistics plc

Stobart Group notes the announcement of Eddie Stobart Logistics plc's half year results today, 26 February 2020, and welcomes its return to trading on the AIM market of the London Stock Exchange.

Stobart Group is an 11.8% shareholder in Eddie Stobart Logistics plc and continues to retain ownership of the Eddie Stobart brand. That brand continues to be valuable and Stobart Group believes it will play an important role in the long-term future of Eddie Stobart Logistics.

The terms of Stobart Group's Exchangeable Bond, issued in May 2019, have not been impacted by the recent change of ownership. The Exchangeable Bond is guaranteed by Stobart Group and on aggregate is exchangeable into 11.8% of the currently issued ordinary shares of Eddie Stobart Logistics plc. The Exchangeable Bond does not fall due for repayment until 8 May 2024.

Enquiries:

Stobart Group Limited  C/o Newgate Communications

Charlie Geller, Communications Director

Newgate Communications  [phone]

Giles Croot  [e-mail]

Ian Silvera

Megan Kovach

 

END

 

 

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