Posting of Shareholder Circular

RNS Number : 9401V

Stobart Group Limited

20 January 2012

 



20 January 2012

Stobart Group Limited ("Stobart" or the "Group")

POSTING OF SHAREHOLDER CIRCULAR

Proposed Related Party Acquisition of WADI Properties Limited

Share Buyback Authority

Notice of General Meeting

Stobart is today posting a circular (the "Circular") to its shareholders containing details of the related party acquisition of WADI Properties Limited ("Proposed Acquisition") and a proposed share buyback for up to 10 per cent. of the Ordinary Shares in issue, as announced on 17 January 2012.

The Circular contains a notice convening a general meeting of shareholders to be held at 11.30 a.m. on 13 February 2012 at Fermain Valley Hotel, Fermain Lane, St.Peter Port, Guernsey, GY1 1ZZ, at which approval for the Proposed Acquisition and share buyback will be sought.

Copies of the Circular have been submitted to the UK Listing Authority and will shortly be available for inspection at the National Storage Mechanism www.hemscott.com/nsm.do.

In addition, the Circular will shortly be available to view on Stobart's website (www.stobartgroup.co.uk) and will be available for inspection at the offices of Hill Dickinson LLP, Irongate House, 22-30 Duke's Place London, EC3A 7HX during normal business hours on any weekday (Saturdays, Sundays and public holidays excepted).

Letters of intent to vote in favour of the Proposed Acquisition and the share buyback have been obtained from Invesco Asset Management Limited and Aviva Investors Global Services Limited in respect of all of their voting rights on Ordinary Shares which, in aggregate, amount to 39.74 per cent. of Stobart's issued share capital. Additionally, letters of intent to vote in favour of the Proposed Acquisition and the share buyback have been obtained from Stobart Directors Rodney Pennington Baker-Bates, Jesper Kjaedegaard, Michael Arthur Kayser, Alan Howard Mitchell Kelsey and Paul David Orchard-Lisle, in respect of all of their Ordinary Shares which, in aggregate, amount to 0.22 per cent. of Stobart's issued share capital. Letters of intent have, in total, therefore been received in respect of 39.96 per cent. of Stobart's issued share capital.

ENQUIRIES:

Stobart Group Limited	[phone]
Rodney Baker-Bates, Non-Executive Chairman
Investec Investment Banking	[phone]
Patrick Robb/ Rowena Murray
i-influence	[phone]
Stuart Dyble/James Andrew
Square1 Consulting	[phone]
David Bick/Mark Longson

Investec, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Stobart and no one else in connection with the related party acquisition, authority for a share buyback and this announcement and will not be responsible to anyone other than Stobart for providing the protections afforded to clients of Investec nor for providing advice in connection with the related party acquisition and authority for a share buyback or this announcement or any matter referred to herein.

 

END

 

 

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