logo-loader
viewStobart Group Ltd

Stobart Group serves notice on Andrew Tinkler

The FTSE 250 transport group said Tinkler will cease to be a director with effect from today

Board room table
The company said it will be writing to shareholders shortly to provide further information

Stobart Group Limited (LON:STOB) has said that following the receipt of comprehensive legal advice, it has today served notice on Andrew Tinkler, summarily terminating his employment with the Stobart Group.

The FTSE 250 transport group said Tinkler will cease to be a director with effect from today and that the company will also be issuing legal proceedings imminently against Mr Tinkler for, amongst other things, breach of contract and breach of fiduciary duty.

The company added that it will be writing to shareholders shortly to provide them with further information on the situation, including its concerns that Tinkler and his associates are attempting to secure control of the company.

Warwick Brady, Stobart chief executive, said: "Mr Tinkler's actions, particularly in recent days, have threatened to destabilise the Company and severely impacted my ability and that of my team to manage the business on a day to day basis and deliver the agreed strategy.  This is against the interests of all of our shareholders."

Quick facts: Stobart Group Ltd

Price: 127.2 GBX

LSE:STOB
Market: LSE
Market Cap: £476.56 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Stobart Group Ltd named herein, including the promotion by the Company of Stobart Group Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Enteq Upstream suggests 50% boost to first half revenues

Headlines from the Proactive UK newsroom. Oilfield services group Enteq (LON:NTQ) says first half revenues will be more than 50% higher than the same period last year while underlying profits have more than doubled. Both numbers are ahead of management expectations.  Passenger numbers...

2 weeks, 5 days ago

2 min read