Stobart’s non-exec builds stake

Michael Kayser, a non-executive director at Carlisle-based logistics giant Stobart, has increased his stake in the company.

The 53-year-old has bought 20,000 ordinary shares at a price of £1.24 each occasion, the company said.

Kayser's stake of the business now stands at 0.0158%. He's been an officer at the company since last year.

It follows the news yesterday that the company's two directors William Stobart and Andrew Tinkler had used significant shareholdings as security against loans.

Stobart has put up 2.7m shares as security, while Tinkler used nearly a quarter of his 30.4m shares in the group. Both arrangements related to personal loans.