Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

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."

View full STOB profile View Profile

Stobart Group Ltd Timeline

Related Articles

Southend Airport
November 02 2018
Analysts at Canaccord Genuity and Stifel think Stobart offers attractive dividends with the company returning £63mln to shareholders in fiscal year 2018
Portfolio
November 05 2018
In early October, the company was presented with the ‘New to Market Award’ at the DIT Business Awards, an accolade that recognises its success in the country
Interviewees
August 07 2018
The offer values Nash at £98.7mln and DBAY already controls 26.1% of Harvey Nash shares

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use