3rd Feb 2021 10:24
(Alliance News) - Stobart Group Ltd on Wednesday said shareholders overwhelmingly backed its name change to Esken Ltd, which comes into effect before the end of the week.
Stobart in January said it sold the Eddie Stobart and Stobart trademarks to Eddie Stobart Logistics PLC for GBP10 million.
As a consequence of the sale, Stobart Group agreed to change its name before the end of February. Its operating divisions can continue to use the brand, however, until May 2023, and London Southend Airport will not change its name.
The move required shareholder approval at Wednesday's meeting. A regulatory filing by the company said just under 100% of votes backed the proposal.
The name change to Esken will come into effect on Thursday.
Shares in the company were down 2.3% at 35.25 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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