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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
