£55M for 51%...that is over £110M for the co., but we are trading under 40M?5 Mar 2020 15:16
Eddie Stobart Logistics PLC confirmed Tuesday it has received a GBP55 million injection from major shareholder DBAY Advisors Ltd.
In return, DBAY will get a 51% stake on Greenwhitestar Acquisitions Ltd, the entity which holds all of the logistics and haulage firm's assets.
On Friday, at a crunch shareholder vote, some 81% of Eddie Stobart's shareholders approved the DBAY rescue plan, rejecting one offered by former chief executive Andrew Tinkler in the form of a GBP80 million equity raise.