Press speculation

RNS Number : 4193G

Stobart Group Limited

17 March 2020

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

17 March 2020

STOBART GROUP LIMITED

('Stobart Group' or 'the Company')

Press speculation

Stobart Group,  the aviation, energy and civil engineering group,  notes the recent press speculation regarding a potential sale of 25% of London Southend Airport.

The Group confirms that it has been in detailed discussions for several months regarding an initial minority investment from a potential strategic airport development partner that has indicated a headline value for London Southend Airport of between £700-800m. No acceptable terms have been agreed and discussions have since been put on hold while both parties navigate the current COVID-19 outbreak.

The person responsible for arranging the release of this announcement on behalf of Stobart Group is Louise Brace, Company Secretary.

Enquiries:

Stobart Group Limited  C/o Newgate Communications

Charlie Geller, Communications Director

Newgate Communications  [phone]

Giles Croot  [e-mail]

Ian Silvera

 

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