Logistics company Stobart Group has completed its acquisition of WADI Properties and has now made an application for the admission to trading of 5,399,742 new ordinary shares.
This will satisfy £6.70m of the £7.20m consideration shares to be issued to WADI Properties, with the remaining £0.5m to be paid at a later date.
Stobart purchased WADI from W.A. Developments International for a total consideration of £12.35m.
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Following admission of the new shares, the group's share capital will consist of 353,960,872 ordinary shares of 10p each with voting rights.
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