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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eddie Stobart Logistics Plc | LSE:ESL | London | Ordinary Share | GB00BD8QVC95 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.50 | 15.50 | 16.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMESL
RNS Number : 9484L
Takeover Panel
11 September 2019
2019/15
Possible Offer by
DBAY Advisors Limited ("DBAY")
for
Eddie Stobart Logistics plc ("Eddie Stobart")
On 9 September 2019, Eddie Stobart announced that it had received a preliminary expression of interest from DBAY in relation to a possible offer. This announcement commenced an offer period for the purposes of the Code, with the result that the disclosure requirements of Rule 8 of the Code now apply in relation to relevant securities of Eddie Stobart.
The Panel Executive notes that Stobart Finance plc, a wholly-owned subsidiary of Stobart Group plc (which is separate from Eddie Stobart), holds approximately 11.8 per cent of the issued ordinary shares of 1p in Eddie Stobart and has issued exchangeable bonds (ISIN XS1946847388) which are exchangeable into this shareholding.
The Panel Executive wishes to clarify that pursuant to paragraph (3)(a) of the definition of "interests in securities" in the Code, a person that holds exchangeable bonds issued by Stobart Finance is treated for the purposes of the Code as being interested in the number of ordinary shares of Eddie Stobart for which the bonds are exchangeable. To determine the number of Eddie Stobart ordinary shares in which a person is interested as a result of holding exchangeable bonds, the exchange ratio of 842.1053 per GBP1,000 should be used.
On the basis that the exchangeable bonds were issued by Stobart Finance, and not Eddie Stobart, the exchangeable bonds are not themselves "relevant securities" of Eddie Stobart under the Code.
Any questions regarding compliance with the disclosure rules in the Code, including Rule 8, should be addressed to the Panel Executive's Market Surveillance Unit which can be contacted on +44(0)20 7638 0129.
11 September 2019
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
POTLIFIDAIILLIA
(END) Dow Jones Newswires
September 11, 2019 03:03 ET (07:03 GMT)
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