Stobart completes WADI Properties acquisition

29th Feb 2012 07:54

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.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