Stobart property deal

UK PROFESSIONAL DRIVERS FORUMS THE UK PROFESSIONAL DRIVERS FORUM (INTERACTIVE)
1

telegraph.co.uk/finance/news … -PIRC.html

No wonder Stobart is struggling when tempted into deals like this. Brilliant! Stitched up your own directors… :open_mouth:
I’m not surprised share holders are complaining

2

Simon71:
Stobart property sale opposed by shareholder body PIRC

No wonder Stobart is struggling when tempted into deals like this. Brilliant! Stitched up my your own directors… :open_mouth:
I’m not surprised share holders are complaining

■■■

Ask Bewick :wink:

3

Smoke & mirrors…
Only looks like someone has blown the smoke away :sunglasses:

4

Wheel Nut:

Simon71:
Stobart property sale opposed by shareholder body PIRC

No wonder Stobart is struggling when tempted into deals like this. Brilliant! Stitched up my your own directors… :open_mouth:
I’m not surprised share holders are complaining

■■■

Ask Bewick :wink:

Sado-Masochism■■?

5

:open_mouth: :laughing:

I can make the shareholders a better offer than that.Give me the £103,000,000 and I’ll buy some properties for £99,000,000 and I’ll keep the difference as an arrangement fee. :smiling_imp: :laughing: :laughing: :laughing:

6

They will be trying to sell trucks valued at 20k for 35k next and the stupid sods will go for it!

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brados:
They will be trying to sell trucks valued at 20k for 35k next and the stupid sods will go for it!

I’d bet that the Nigerians or the travelling community would know a way of buying one for £35 k in which they’d get paid zb all for it. :open_mouth: :laughing: :laughing:

8

Thinking about it, my house would be a long term property investment, I would accept 295k for it as a quick sale and it must be worth at least 150k, I think that might be worth an email to the board at stobbies.

Drinks all round lads :wink:

9

Did you note how much the 2 okes paid for the properties originally though WOW no winners there then :blush:

10

One day, there will be a big bang.

11

Looks like this could be the makings of an “up-dated” version of “The Ralph Hilton” experience of the early 70’s !Bewick.

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:open_mouth: :open_mouth: :open_mouth: :open_mouth: :open_mouth: :open_mouth: :open_mouth: :open_mouth: :open_mouth:

Under the terms of the deal, Stobart will pay Mr Tinkler and Mr Stobart £5.2m cash, £7.2m in shares and take on the debt. Stobart will also pay £2.8m to the lender, GE, as a “restatement cost”.

bloody hell what a fiddle.

i wonder if i could do the same with alex broadley ltd. :wink: :wink: :wink: :wink:

13

Well if they’ed had some decent shareholders there is no-way that the “chuckle brothers” could have dumped their negative equity back on the PLC group,they would have been up to their armpits in lumber now if the shareholders had told them to ■■■■ off!!! Bewick.

14

so what you mean is Dennis, they are trying to get the plc to swallow their personal losses?

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How are banks allowing them to buy property for more than its worth or is what all the 12k from franchisees for

16

kr79:
How are banks allowing them to buy property for more than its worth or is what all the 12k from franchisees for

They have lied to the banks from day one, Edward even admitted that in one of his books, dont suppose William feels like changing his honesty policy, you couldnt trust the [zb]s as far as you could throw them!

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Yeah but you would think in the current climate they would be cautious

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DADDY LONGLEGS:
so what you mean is Dennis, they are trying to get the plc to swallow their personal losses?

They’ve done exactly that from what I’ve read in the financial press !! Bewick.

19

There is of course a ‘bigger picture’. In the next financial year the chukkle brothers will buy th eproperty portfolio back for £75k and therefore ESL will have a write off against tax and the chukle brothers will just get richer like their hardworking drivers! :smiley: :smiley: :smiley: :smiley:

20

It is probably a very good deal, Stobbies are spreading the risk a bit away from relying too much on logistics and transport.