Conversion from Income Shares

RNS Number : 0893K

Stobart Group Limited

13 April 2010

 

Stobart Group Limited

Tuesday 13 April 2010

Conversion from Income Shares to Ordinary Shares

Pursuant to the announcement made on 1 March 2010 and in accordance the Company's Articles of Association, Stobart Group Limited (the "Company") has received conversion notices in respect of 3,628,158income shares in the Company (the "Income Shares") to today convert into 3,098,440 ordinary shares of 10 p each in the Company ("Ordinary Shares").  In addition, redemption notices have been received to redeem 789,058 Income Shares today.

Shareholder CREST accounts for those shareholders for whom Conversion Notices have been received will be credited with Ordinary Shares on 14 April 2010.

The Company has made an application to admit 3,098,440 Ordinary Shares to the official list of the UK Listing Authority and to trading on the London Stock Exchange.

Certain Income Shareholders have chosen neither option and, therefore, 854,462 Income Shares will continue under the current terms, although it should be noted that after 31 March 2010, the Company will have the right to compulsorily redeem all Income Shares for £1 cash per Income Share at any time giving 14 days notice in writing, as set out in the Articles.

Following the conversion there are 265,164,912 Ordinary Shares and 854,462 Income Shares in Issue.

Stobart Group Andrew Tinkler, Chief Executive Officer Ben Whawell, Chief Financial Officer

01925 605 400

 

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