EGM Update

11 July 2018

STOBART GROUP LIMITED

('Stobart Group' or 'the Company')

EGM Update

On 5 June 2018, the Company announced that it had received a requisition from three shareholders holding in excess of 33 per cent. of the Company's voting capital to nominate Philip Day to be elected as a Director of the Company. Those shareholders comprised Andrew Tinkler (former executive director), funds acting through Woodford Investment Management Limited and Allan Jenkinson.

On 25 June 2018, the Company announced the posting of a circular to shareholders convening an extraordinary general meeting to be held at 11 a.m. on 18 July 2018 (the "EGM"), and at which a resolution to elect Mr Day would be proposed. 

The Company's Articles of Incorporation require a potential Director to provide confirmation as to his willingness to be elected as a Director no later than seven clear days in advance of the meeting to consider his election. Mr Day failed to provide such confirmation on or before 10 July 2018 and therefore Mr Day is not eligible to be elected as a Director at the EGM.

Accordingly, the sole resolution proposed at the EGM is now ineffective.

Given there is now no business to conduct at the EGM, shareholders need take no further action irrespective of whether they have already submitted a proxy vote.

Enquiries:

Redleaf Communications

Charles Ansdell

+44 203 757 6880[email protected]