SHARES THAT ‘SWUNG VOTE’

STOBART bosses are facing questions over their decision to transfer 7m shares from the firm’s treasury to an employee benefit trust.

The move meant the shares could be used to vote at Friday’s annual general meeting, when investors were asked to re-elect chairman Iain Ferguson and to appoint Andrew Tinkler as a director.

Tinkler’s allies believe the shares were moved to help swing the vote to re-elect Ferguson. Stobart’s board says the firm moved the shares in order to award potential bonuses and that it was not related to the vote.