Stobart Group Limited Trading Update and Board Changes (2338B)
02 Aprile 2013 - 8:01AM
UK Regulatory
TIDMSTOB
RNS Number : 2338B
Stobart Group Limited
02 April 2013
Stobart Group Limited ("Stobart" or the "Group")
Trading Update and Board Changes
Stobart will announce its results for the year ended 28 February
2013 on 16 May 2013 and expects to report results moderately ahead
of market expectations.
The Group is pleased to announce that it has signed a new three
year contract with Tesco, which runs until 29 February 2016. This
agreement formalises the previous arrangements with Tesco, to whom
the Group has been providing both primary and secondary
distribution services on a pay as you go basis for the past eight
years. Having invested heavily to support Tesco's drive for an
efficient network, the Group currently provides secondary
distribution services to nine Tesco Distribution Centres across the
UK and the Republic of Ireland.
Against the above trading background, the Board has decided that
the role of Executive Chairman is no longer appropriate and Avril
Palmer-Baunack will stand down from this role with immediate
effect. Avril will remain on the Board as Non-Executive Chairman
until a suitable independent Non-Executive Chairman is appointed
and it is expected that Avril's departure will be on or around the
release of the Group's results on 16 May 2013. In addition, Senior
Independent Director, Alan Kelsey, has indicated his intention to
leave the Board at the same time as Avril. Rodney Baker-Bates, who
had previously announced his retirement, has agreed to remain on
the board as a Non-Executive Director and to assist until a new
chairman is appointed.
Enquiries:
i-nfluence +44 (0)207 287 9610
Stuart Dyble/James Andrew
Lansons Communications +44 (0)7979 692287
Tony Langham tonyl@lansons.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEAFLAESEDEEF
Grafico Azioni Esken (LSE:ESKN)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Esken (LSE:ESKN)
Storico
Da Lug 2023 a Lug 2024