Stobart lifts off as it sell Aviation arm

The share price of logistics operator Stobart (LON:STOB) climbed 3.50% to 159.80p (as of 14:00 GMT) after it announced the disposal of its Aviation holdings had been completed. The deals, as laid out in the announcement on 11th January, were valued at an aggregate £40 million.

This news comes a week after the High Court ruled on the dispute between the company and former director Andrew Tinkler. The court declared his dismissal legal and rejected his subsequent claim for reinstatement. A further hearing will take place to determine what relief the company is entitled to with respect to Mr Tinkler’s breaches of his fiduciary duty.