Stobart directors use shares as security

Carlisle-based logistics giant Stobart has announced its two directors have used significant shareholdings as security against loans.

In a brief announcement made on the London Stock Exchange today, it said William Stobart has put up 2.7m shares as security, which is a quarter of his stake, and chief executive Andrew Tinkler has used nearly a quarter of his 30.4m shares in the group.

The statement said both arrangements related to personal loans.

Shares in the group are trading at around 128p valuing the men's security at £3.4m and £9.3m respectively.

Elsewhere, non-executive Daniel Dayan has bought 40,000 shares in the Stobart Group.