Completion of Acquisition (3800Y)
29 Febbraio 2012 - 1:05PM
UK Regulatory
TIDMSTOB
RNS Number : 3800Y
Stobart Group Limited
29 February 2012
The following announcement replaces the Completion of
Acquisition announcement RNS 3473Y released at 07.38 on 29 February
2012. There was an incorrect reference to the entity the
Consideration Shares are being issued to, and should have read W.A.
Developments International Limited and not WADI Properties. All
other text remains the same. A correction of the full announcement
is below.
29 February 2012
Stobart Group Limited
Completion of Acquisition of WADI Properties Limited
Stobart Group Limited ("Stobart" or the "Group") is pleased to
announce that the acquisition of WADI Properties Limited ("WADI
Properties" or the "Company") has last night completed.
Accordingly, the Group announces that it has made application
for the admission to trading of 5,399,742 new Ordinary Shares. This
satisfies GBP6.70 million of the GBP7.20 million Consideration
Shares to be issued to W.A. Developments International Limited, as
described in the Circular, with the remaining GBP0.50 million being
held back pending resolution of the completion accounts mechanism,
which is summarised in the Circular. The number of Consideration
Shares to be issued is based on the average middle market closing
price for a Stobart ordinary share on the five business days prior
to Completion.
The new Ordinary Shares rank pari passu with the existing
Ordinary Shares of 10p in all respects. It is anticipated that
trading in the shares will commence on the Main Market of the
London Stock Exchange on 02 March 2012.
Following Admission of the new Ordinary Shares, the Group's
share capital will consist of 353,960,872 ordinary shares of 10p
each with voting rights.
The above figure (353,960,872) may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or change to
their interest in, Stobart under the FSA's Disclosure and
Transparency Rules.
For further information contact:
Stobart Group
Rodney Baker-Bates,
Non-Executive Chairman +44 1925 605 400
Investec
Patrick Robb/Rowena
Murray +44 20 7597 4000
i-nfluence
Stuart Dyble/James Andrew +44 20 7287 9610
Square 1 Consulting
David Bick/Mark Longson +44 20 7929 5599
Terms defined in the Circular have the same meaning in this
announcement, unless the context requires otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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