Shareholders of Esken Ltd (formerly Stobart Group Ltd and before that, Santry based Aer Arann have approved the sale of the company’s biomass division.
According to as a stock exchange announcement, this decision allows the company’s board to move forward with the process of finding a new owner for its aviation division, primarily London Southend Airport (LSA).
The board aims to find a long-term partner who recognizes the strategic opportunities of LSA and can support its future growth. The goal is to maximize shareholder value through this partnership.
Once these transactions are completed, Esken’s intention is to return the residual value back to its shareholders. As of last Friday, the market capitalisation of the company was £16.41m.
