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Red Flags at Night: Esken (formerly Stobart Group Ltd) runs into big trouble with sale of Stobart Air

By Nigel Somerville | Monday 31 May 2021

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

On Friday morning at 7am fully-listed former Neil Woodford favourite Esken (ESKN) – formerly known as Stobart Group Ltd (STOB) – announced that its proposed sale of Stobart Air to Ettyl Limited was being delayed by change of control consents taking longer than planned. Given that the sale was due to complete by early May 2021 announcing this on the last trading day of May seems a bit ripe. But worse was to follow.

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Rumours of two placings FWIW