Stobart completes WADI Properties acquisition
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.
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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