24 Nov 2020 14:22
24 November 2020
Eddie Stobart Logistics plc
(the "Company")
Response to share price movement
The Board of Eddie Stobart Logistics plc notes the movement in its share price and confirms that it knows of no commercial or operational reason for the increase since the Company's announcement dated 12 October 2020.
The Board remains committed to converting to an investing company, which will require a shareholder vote and completion of an equity fundraising of a minimum of £6 million in cash. Should the proposed conversion not be announced before 9 December 2020, it is expected that the Company's ordinary shares will be suspended from trading on AIM from that date. It is expected that the equity fundraising will be structured as a placing, subscription and open offer, and that new ordinary shares will be issued at a discount to recent share price levels.
There can be no certainty at this stage that either the conversion to an investing company or the placing and open offer will complete successfully, or as to the final terms in each instance. Updates will be provided by the Company in due course as appropriate.
Further enquiries:
Eddie Stobart Logistics plc | via FTI Consulting |
FTI Consulting | (0)20 3727 1340 |
Nick Hasell / Alex Le May / Matthew O'Keeffe | |
Cenkos Securities Plc (Nomad & Broker) | (0)20 7397 8900 |
Nicholas Wells / Giles Balleny / Harry Hargreaves |