Airlines, Airports & Routes Topics about airports, routes and airline business.

Southend-2

Old 5th Jul 2018, 18:50
  #1701 (permalink)  
 
Join Date: Mar 2012
Location: Cheshire
Age: 40
Posts: 212
I guess we will find out tomorrow
rowly6339 is offline  
Old 6th Jul 2018, 18:44
  #1702 (permalink)  
 
Join Date: Apr 2016
Location: Essex
Posts: 871
Originally Posted by rowly6339 View Post
I guess we will find out tomorrow
Apparently not. An announcement of the results of voting has been delayed by the company.
DC3 Dave is online now  
Old 6th Jul 2018, 22:11
  #1703 (permalink)  
 
Join Date: Jan 2001
Location: Clarty Waters, UK
Age: 54
Posts: 906
Apparently it was that close that they've invited an independent 3rd party to double check the count. Result now expected on Monday. Meanwhile, the Chief Financial Officer has suddenly quit:

Bitter boardroom battle comes to head at Stobart AGM

Never a dull moment........
Andy_S is offline  
Old 7th Jul 2018, 00:45
  #1704 (permalink)  
 
Join Date: Nov 2001
Location: London Whipsnade Wildlife Park
Posts: 4,322
What an absolute fiasco which does nothing for the reputation of Southend sadly.
Buster the Bear is offline  
Old 7th Jul 2018, 06:13
  #1705 (permalink)  
 
Join Date: May 2014
Location: Westcliff-on-Sea
Age: 74
Posts: 281
Stobart AGM

I am not a believer in paid for access to newspaper websites; is anyone prepared to enlighten me as to the contents of the FT report? If not then I'll just wait for it to become general knowledge.
SEN Observer is offline  
Old 7th Jul 2018, 09:56
  #1706 (permalink)  
 
Join Date: Jul 2003
Location: Under the flight path
Posts: 2,140
Under public company listing rules, any price-sensitive news must be disclosed to the stock exchange first, thus reaching all investors at the same time. That is why the announcement has been delayed until Monday.
LGS6753 is offline  
Old 7th Jul 2018, 10:25
  #1707 (permalink)  
 
Join Date: Jan 2008
Location: Luxembourg
Posts: 774
Originally Posted by LGS6753 View Post
Under public company listing rules, any price-sensitive news must be disclosed to the stock exchange first, thus reaching all investors at the same time. That is why the announcement has been delayed until Monday.
I love aviation but hate the politics. Changing the subject, when do the Bordeaux flights begin?
tophat27dt is offline  
Old 7th Jul 2018, 11:15
  #1708 (permalink)  
 
Join Date: Jan 2001
Location: Clarty Waters, UK
Age: 54
Posts: 906
Originally Posted by SEN Observer View Post
I am not a believer in paid for access to newspaper websites; is anyone prepared to enlighten me as to the contents of the FT report? If not then I'll just wait for it to become general knowledge.
That's weird; the link worked yesterday. But anyway, this is the actual text:


A bitter public boardroom battle at Stobart Group came to a head on Friday with an acrimonious annual general meeting. The infrastructure group, whose assets include Southend airport and a biomass business, has been in turmoil since May, when former chief executive Andrew Tinkler launched a campaign to unseat chairman Iain Ferguson. However, the results of the AGM — showing whether Mr Tinkler has been successful — were delayed past the close of business on Friday, which is unusual and typically indicates the vote was close. The AGM itself was fractious with several shareholders calling on Mr Ferguson to stand down. “I will not be standing down,” he said. “One of the great sadnesses of the last few weeks has been that our relationship [Mr Ferguson and Mr Tinkler] has deteriorated after four years of working together.” William Stobart, son of the founder of the Eddie Stobart truck haulage business and a close friend of Mr Tinkler, said at the meeting that the board had damaged the company brand and that his phone had been “red hot” with calls from unhappy employees. Mr Ferguson acknowledged there had been a “significant dispute at Stobart over the past weeks”. “As chairman of a listed company, you never want disputes to impact on the business. However, it is important that debate happens in a transparent way.” He added that there were “hugely important principles at stake”, including how all “boards must be professional and put ethics at the heart of everything they do”. On the morning of the AGM, Stobart’s chief financial officer stood down. In an announcement to the stock market, the company said that Richard Laycock had decided to step down as “chief financial officer and executive director and will not be putting himself forward for election at the AGM”. Recommended UK companies Stobart moves shares around ahead of crucial AGM vote Mr Laycock has been silent over the past couple of months, with shots mainly exchanged between Mr Tinkler and chief executive Warwick Brady. Mr Tinkler was fired as a director of Stobart Group in June, following his efforts to remove Mr Ferguson and replace him with retail entrepreneur Philip Day. Stobart said at the time it was issuing legal proceedings against Mr Tinkler, alleging “breach of contract and breach of fiduciary duty”. Mr Tinkler then launched defamation proceedings against Stobart’s board, including Mr Laycock. In an email to Mr Ferguson, Mr Laycock said he had not approved the statement Mr Tinkler was complaining about. Mr Tinkler failed in a legal case this week to have himself reinstated on the AGM’s ballot for re-election as a director. The votes for and against Mr Ferguson’s election among major shareholders were looking tight before the AGM. Largest shareholder Invesco, which owns 25 per cent, had said it would support Mr Ferguson, as had Royal London, with 2.6 per cent. Fund manager Neil Woodford, whose Woodford Investment Management has 20 per cent, said it would vote against Mr Ferguson, as would Mr Tinkler, who owns 7.8 per cent, and Allan Jenkinson, a former Stobart director who sold his biomass business to the company when Mr Tinkler was chief executive and owns 5.6 per cent. Proxy advisers Glass Lewis and ISS had both advised shareholders to vote for Mr Ferguson.
Andy_S is offline  
Old 7th Jul 2018, 11:16
  #1709 (permalink)  
 
Join Date: Jun 2011
Location: essex
Posts: 557
Bordeaux starts 25th july
mikkie4 is offline  
Old 7th Jul 2018, 12:47
  #1710 (permalink)  
 
Join Date: Apr 2016
Location: Essex
Posts: 871
Just spotted this article regarding an incident on Thursday. There seems to be a contradiction regarding what happened to the pax. Does anyone know?

Emergency plane landing at Stansted after bird strikes Southend easyJet craft on way to Malaga | Echo
DC3 Dave is online now  
Old 7th Jul 2018, 12:55
  #1711 (permalink)  
 
Join Date: Jan 2008
Location: Luxembourg
Posts: 774
Originally Posted by DC3 Dave View Post
Just spotted this article regarding an incident on Thursday. There seems to be a contradiction regarding what happened to the pax. Does anyone know?

Emergency plane landing at Stansted after bird strikes Southend easyJet craft on way to Malaga Echo
One of the passengers said the flight was eventually cancelled outbound and inbound. Refunds were offered. I think a replacement aircraft positioned empty from (Nice) later in the evening to operate the following days schedule. This time of year I imagine it's not so easy to find empty seats and get back home.
tophat27dt is offline  
Old 7th Jul 2018, 18:28
  #1712 (permalink)  
 
Join Date: May 2014
Location: Westcliff-on-Sea
Age: 74
Posts: 281
Stobart AGM

Andy_S - .Thanks for the details. Would have thanked you earlier but have been out all day and only just seen it.
SEN Observer is offline  
Old 9th Jul 2018, 09:38
  #1713 (permalink)  
 
Join Date: Jan 2001
Location: Clarty Waters, UK
Age: 54
Posts: 906
So, the results are in. And Ferguson survives – just. 51% to 49%.

In what seems to have been a chaotic and bad tempered AGM, a motion was also raised from the floor to re-appoint Andrew Tinkler as a director – and was narrowly passed. However, from what I’ve read, if I understand correctly, it seems that the re-elected board immediately dismissed him again……..

The question is – will Tinkler now cease and desist, or will he and his supporters regroup and continue their campaign.
Andy_S is offline  
Old 9th Jul 2018, 10:06
  #1714 (permalink)  
 
Join Date: Jul 2007
Location: No fixed abode
Posts: 692
Originally Posted by Andy_S View Post
So, the results are in. And Ferguson survives – just. 51% to 49%.

In what seems to have been a chaotic and bad tempered AGM, a motion was also raised from the floor to re-appoint Andrew Tinkler as a director – and was narrowly passed.

The question is – will Tinkler now cease and desist, or will he and his supporters regroup and continue their campaign.
I sense this is not the end of the story, there appears no harmony at all in Stobart at present.
Looking to diversify the shareholder base in the future is fine but at the moment , with two camps not prepared to give an inch , this is only going to drag on in Public I fear.

Last edited by Falcon666; 9th Jul 2018 at 10:17.
Falcon666 is offline  
Old 10th Jul 2018, 11:40
  #1715 (permalink)  
 
Join Date: May 2014
Location: Westcliff-on-Sea
Age: 74
Posts: 281
I was listening in on the radio this morning and the tower called up Air Malta advising that their slot time was 09:00 (10:00 our time) to which Malta replied that they couldn't make that as they had not commenced boarding due to congestion in the terminal. And Ryanair hasn't arrived yet!! A sign of things to come?

SEN Observer is offline  
Old 10th Jul 2018, 13:46
  #1716 (permalink)  
 
Join Date: Jun 2011
Location: essex
Posts: 557
someone has posted on another web site that SEN has planning permission to expand by 1/3rd so this might not be a future problem, don't think if there was a problem RYAN AIR wouldn't have based 3 air craft at SEN if the slots were not available
mikkie4 is offline  
Old 10th Jul 2018, 15:15
  #1717 (permalink)  
 
Join Date: Jan 2008
Location: Luxembourg
Posts: 774
Originally Posted by SEN Observer View Post
I was listening in on the radio this morning and the tower called up Air Malta advising that their slot time was 09:00 (10:00 our time) to which Malta replied that they couldn't make that as they had not commenced boarding due to congestion in the terminal. And Ryanair hasn't arrived yet!! A sign of things to come?

the flight departed at 1020 so I suggest they hadn't completed boarding on schedule because of security checks also on the Palma and FlyBe outbound flights. Not a regular glitch I think.
tophat27dt is offline  
Old 10th Jul 2018, 15:16
  #1718 (permalink)  
 
Join Date: Jan 2008
Location: Luxembourg
Posts: 774
Originally Posted by EssexMan61 View Post
Well - the Southend Airport website is as totally useless as ever. STILL states on their "Destinations" page that Carlisle flights commence September 2018. Truly, truly, pathetic.
I think the person who updates the website is part time and pops in once a month, so be patient. Lol
tophat27dt is offline  
Old 10th Jul 2018, 15:27
  #1719 (permalink)  
 
Join Date: Mar 2013
Location: Essex
Age: 58
Posts: 146
Yes - tophat - I think you are on the right lines! I just think that it is a really poor show that in this digital day and age they can not do better.
EssexMan61 is offline  
Old 10th Jul 2018, 17:09
  #1720 (permalink)  
 
Join Date: May 2014
Location: Westcliff-on-Sea
Age: 74
Posts: 281
Carlisle

Originally Posted by EssexMan61 View Post
Well - the Southend Airport website is as totally useless as ever. STILL states on their "Destinations" page that Carlisle flights commence September 2018. Truly, truly, pathetic.
Have I missed something? Are Carlisle flights not now starting in September?
SEN Observer is offline  

Thread Tools
Search this Thread

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.