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 +44 203 757 6880
Giles Croot stobart@newgatecomms.com
Ian Silvera