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Stobart Group energy bosses get reward after division doubles in size

The Energy division has been independently valued at £210mln as at 30 June 2019, compared to a starting valuation of £100mln three years before

Stobart Group Ltd -

Stobart Group Ltd (LON:STOB) said the management incentive plan for its Energy arm has now vested after the division more than doubled in size over the past three years.

A £5.3mln award will be made in the form of new shares in the group to the division's management as part of the Stobart Energy Incentive Plan (SEIP), which was put in place to align the management of the division with shareholder interests and was approved at the 2016 annual shareholders meeting.

The Energy division has been independently valued at £210mln as at 30 June 2019, compared to a starting valuation of £100mln three years before.

Vesting of the award will see Management 665,251 existing ordinary shares transferred from the Stobart Group employee benefit trust and the issue of 3,830,947 new ordinary shares.

The Energy division supplies biomass to three power plants in the UK and Ireland, with the 1.3mln tonnes of wood chips delivered in the past year representing an increase of over 45% on the previous year.

The division also produces wood chips from virgin wood for sale into the small scale market.

Quick facts: Stobart Group Ltd

Price: 126.8 GBX

LSE:STOB
Market: LSE
Market Cap: £4.76 m
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on 05/14/2016

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