Stobart Group Ltd. (STOB)

Sector:

Commercial Transport

Index:

FTSE Small Cap

19.50p
   
  • Change Today:
      0.040p
  • 52 Week High: 121.84
  • 52 Week Low: 18.00
  • Currency: UK Pounds
  • Shares Issued: 624.93m
  • Volume: 618,405
  • Market Cap: £121.86m

Stobart sells 56.4% of open offer shares

By Sean Farrell

Date: Thursday 25 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Stobart has sold 56.4% of shares made available to shareholders in an open offer as part of its move to raise £100m.
The infrastructure company said it received valid acceptances from existing shareholders for 23.8m open offer shares representing 47.8% of the open offer shares. Shareholders also applied for 4.3m open offer shares under an excess application facility.

In total Stobart received applications for 28.2m open offer shares. The remaining 21.8m shares representing 43.6% of the offer will be allocated to investors who agreed to buy them in a placing in early June.

The owner of Southend airport sold the shares to investors at 40p each - a 42% discount to the closing price before the offer was announced. Stobart shares fell 7.9% to 36.75p at 13:31 BST.

David Shearer, Stobart's chairman, said: "We are pleased with the support we have received from our existing shareholders in the open offer. On behalf of the Board, I would like to express my gratitude to those who have provided their support. We look forward to repaying their trust in us by delivering on our strategic objectives in the coming years."

The company asked shareholders for money after failing to raise new debt or attract an investor for a stake in Southend airport, its main asset. Stobart said it needed the money to boost short-term liquidity during the Covid-19 crisis and return its aviation business to growth.

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STOB Market Data

Currency UK Pounds
Share Price 19.50p
Change Today 0.040p
% Change 0.21 %
52 Week High 121.84
52 Week Low 18.00
Volume 618,405
Shares Issued 624.93m
Market Cap £121.86m

STOB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.02% above the market average17.02% above the market average17.02% above the market average17.02% above the market average17.02% above the market average
29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average
Price Trend
98.84% below the market average98.84% below the market average98.84% below the market average98.84% below the market average98.84% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
52.61% above the market average52.61% above the market average52.61% above the market average52.61% above the market average52.61% above the market average
64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

STOB Dividends

  Latest Previous
  Final 2nd Interim
Ex-Div 20-Jun-19 27-Dec-18
Paid 31-Jul-19 31-Jan-19
Amount 3.00p 1.50p

Trades for 26-Oct-2020

Time Volume / Share Price
12:21 132 @ 19.56p
12:00 3,441 @ 19.50p
12:00 1,000 @ 19.56p
12:00 1,990 @ 19.50p
12:00 309 @ 19.50p

STOB Key Personnel

CEO Warwick Brady
COO Nick Dilworth
CFO Lewis Girdwood

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