Eddie Stobart Logistics PLC - AIM-listed cash shell - Says open offer announced earlier this month has closed oversubscribed. Gets valid applications for 228.1 million open offer shares. Conditionally raises total gross proceeds of GBP7.0 million from open offer and GBP9.0 million raised by way of subscription and share placing. Company raises total of GBP16.0 million in total. Plans to change name to Logistics Development Group PLC to delineate the company from the Eddie Stobart trucking business, in which the company holds an indirect interest.
Current stock price: 8.90p, up 5.3% on Tuesday
Year-to-date change: down 17% since February 26
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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