14 Jun 2018 14:07
14 June 2018
STOBART GROUP LIMITED
('Stobart Group' or 'the Company')
Board change
The Company announces that, following the receipt of comprehensive legal advice, it has today served notice on Andrew Tinkler, summarily terminating his employment with the Stobart Group. Mr Tinkler will cease to be a director with effect from today's date.
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 will be writing to shareholders shortly to provide them with further information on the situation, including its concerns that Mr Tinkler and his associates are attempting to secure control of the Company.
Warwick Brady, CEO of Stobart Group, 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."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 956/2014.
ENDS
Enquiries:
Redleaf Communications
Robin Tozer
Charles Ansdell
+44 203 757 6880
Stobart@redleafpr.com