Eddie Stobart Logistics (#ESL) – open offer oversubscribed, shareholders will receive 13.5% of excess shares applied for

Eddie Stobart Limited Interims: another bath for shareholders in view?

This morning AIM-listed Eddie Stobart Limited (ESL) released its interims – the first reporting period following the accounting shambles which threatened to destroy the Eddie Stobart business and left the company with a (just under) half share of the business it used to own (less a load of 18% debt). So how are things?

Eddie Stobart Logistics (#ESL) – 49% owned associate business wins transportation “substantial contract” for Wm Morrison (#MRW)

Eddie Stobart Logistics (#ESL) – delays half-year results announcement to “late September”

Eddie Stobart Logistics (#ESL) – notes “exceptional volumes that we would typically see around Christmas” for 49%-owned supply chain, transport and logistics business

Eddie Stobart Logistics (#ESL) – results… for six months ended 31st May 2019! & restored to trading on AIM casino

Eddie Stobart Logistics (#ESL) – FCA approves Change in Control application necessary for DBAY’s proposed financing

Woodford Dog Eddie Stobart Logistics – DBAY updates proposals as Woodford funds sell

It was reported at the weekend that Neil Woodford’s funds' previous holding in AIM-listed Eddie Stobart Logistics (ESL) was sold at just 6p per share – as against the 70p suspension price. That should give a measure of the trouble Stobart is in, and also a measure of Woodford’s failure here. This morning DBAY updated on its proposals, presumably in response to noises from the competing Tinkler camp, as it tries to take control and rescue the outfit, and Tinkler has responded...

Eddie Stobart Logistics (#ESL) – DBAY Advisors “Update on proposal”, argues “has listened to shareholders and amended its initial proposal”

Eddie Stobart Logistics – Tinkler’s alternative refinancing gains momentum: will the board respond?

For all his past history at Stobart Group (STOB), having come second in a battle for its boardroom, Andrew Tinkler’s proposed refinancing of Stobart’s former subsidiary and now AIM-listed Eddie Stobart Logistics (ESL) seems to be gathering momentum. Yesterday it was announced that he already seems to have the proposed £70 million rescue funds in the bag – although the board of Eddie Stobart seems a tad reticent...

Eddie Stobart Logistics (#ESL) – Andrew Tinkler’s TVFB updates has already received conditional indications for more than £70m target for on-market solution

Woodford dog Eddie Stobart: former boss Andrew Tinkler offers up a lorry-load of (other peoples’) cash

Yesterday came bad news for shareholders in AIM-listed Eddie Stobart Logistics (ESL) in that Wincanton pulled out of making a rescue offer. Today we learn that the former boss of Eddie Stobart Limited is offering an alternative rescue plan to the one from DBAY which would surely leave the existing equity almost worthless. Apparently the Tinkler deal is considerably more advantageous to ESL's shareholders and also its lenders and that his company, TVFB, believes that operating margins and growth as per the levels when Tinkler stepped down as CEO can be restored. So that’s alright then!

Eddie Stobart Logistics (#ESL) – alternative financing proposal from company controlled by former CEO Andrew Tinkler

Neil Woodford disaster of the day 1: Eddie Stobart refinancing via 25% interest rate loan, equity almost worthless

Eddie Stobart Holdings (ESL) still sees its shares suspended as the company can still not get its half year accounts bottomed out and published but a rescue plan today may well see the shares slung off AIM and the nature of the mega high interest loan injection makes it clear the equity is almost worthless. Well done Neil – this was a major holding in the Income Focus and Equity Income Funds.

Eddie Stobart Logistics (#ESL) – agreement to sell a 51% stake in trading entities & for £55m of new financing – though “carry interest at an initial rate of 25% per annum”!!

The curse of Neil Woodford: Eddie Stobart Logistics – tentative rescue offer from Dbay suggests 80%+ wipeout for shareholders

A media leak has forced Eddie Stobart Logistics (ESL) to admit that it has received a tentative refinancing proposal and it is one that suggests an 80%+ wipeout for shareholders, notably lucky holders of funds formerly managed by disgraced Neil Woodford.

Eddie Stobart Logistics (#ESL) – considering proposal for an acquisition of a controlling interest in its operations

Eddie Stobart Logistics – another potential bidder enters the fray for this Woodford Dog

Shares in AIM-listed Eddie Stobart Logistics (ESL) remain suspended pending interim results and financial clarification, but that has not stopped a third potential bidder – Wincanton (WIN) – entering the fray. Eddie Stobart now has three potential suitors – DBAY, which was involved in its original demerger from Stobart Group (STOB), and an outfit headed by Andrew Tinkler – who was sacked by Stobart Group after a messy campaign to remove its then chairman, and Wincanton which now has twenty-eight days to decide whether to make an offer. So is this all good news?

Eddie Stobart Logistics (#ESL) – “has granted due diligence access to Wincanton to assess the potential merits of a combination”

Eddie Stobart Logistics: the silence is deafening as Neil Woodford sweats

Neil Woodford, the largest shareholder in AIM-listed, but suspended pending interim accounts and one assumes by now financial clarification, Eddie Stobart Logistics (ESL) must be sweating as he wonders what his near-23% stake will be worth. Interims to 31^st May 2019 are still pending, now a month and a half late and two interested bidders have emerged in the form of DBAY Advisers and Andrew Tinkler, the former CEO (before he was ousted) of Stobart Group (STOB).