105-785: Esken Limited ( LSE : ESKN ), formerly Stobart Group Limited , is a British infrastructure , aviation and energy company, with operations in the United Kingdom and Ireland . The company is registered in Guernsey but has its operational head office in London, England. The company originally started in January 2002 as the Westbury Property Fund Limited, a closed-ended real-estate investment fund. In August 2006, realising that property prices were reaching
210-599: A board of directors drawn from the Exchange's executive, customer, and user base; and the trading name became "The London Stock Exchange". The FTSE 100 Index (pronounced "Footsie 100") was launched by a partnership of the Financial Times and the Stock Exchange on 3 January 1984. This turned out to be one of the most useful indices of all, and tracked the movements of the 100 leading companies listed on
315-617: A 2020 Financial Conduct Authority report, approximately 15% of British adults reported having investments in stocks and shares. The Royal Exchange had been founded by English financier Thomas Gresham and Sir Richard Clough on the model of the Antwerp Bourse . It was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their perceived rude manners. They had to operate from other establishments in
420-470: A 49% stake) of the new Eddie Stobart logistics business. The deal enabled the group to pay back almost all of its debt, conduct a £35 million share buy-back and invest £55 million into its new division, Stobart Green Energy. At the same time William Stobart left his position as Chief Operating Officer of the Stobart Group to become Executive Chairman of Eddie Stobart Logistics . On 11 May 2017, it
525-550: A 5% stake in the airline. Stobart Group had an option to increase its stake by a further 27.5% to 32.5%. At the same time, Aer Arann announced that it would start twice daily flights from Stobart Group's London Southend Airport to Galway and Waterford in Ireland from 27 March 2011. On 24 February 2017 Stobart Group completed 100% acquisition of Stobart Air , after purchasing the remaining 19% of Everdeal Holdings. Stobart Group also completed 100% ownership of Propius Holdings Ltd,
630-518: A 750,000-square-foot (70,000 m ) distribution centre. Ryanair also expressed an interest in using the completed airport as a hub. On 4 April 2008 controversy emerged surrounding the proposed developments to Carlisle Lake District Airport. In response to 63 apparently overly restrictive planning conditions placed on the development plans of Stobart Air, On 7 October at the Cumbria Tourist Board's AGM he confirmed that work at
735-400: A Westbury Properties Ltd. subsidiary, Moneypenny Ltd., were used by the Stobart Group for its operations. On 17 January 2012, Stobart Group announced it was purchasing WADI Properties Ltd. itself for £12.35 million (£5.15 million in cash and £7.2 million in new Stobart Group ordinary shares) from W. A. Developments International Ltd. Following another independent shareholder vote, the acquisition
840-565: A club and opened a new and more formal "Stock Exchange" in Sweeting's Alley. This now had a set entrance fee, by which traders could enter the stock room and trade securities. It was, however, not an exclusive location for trading, as trading also occurred in the Rotunda of the Bank of England. Fraud was also rife during these times and in order to deter such dealings, it was suggested that users of
945-631: A judicial review was received and work started on 3 December 2014. This was completed on 7 September 2015. This first development covers 19 acres, and this site was sold to the real estate investment fund Gramercy Europe for £16.925 million on 22 February 2016. On 22 November 2016, Stobart Group announced it was developing 21 acres of land adjacent to its existing Air Freight Distribution Centre in an area to be called Eden Park . Eden Park will consist of industrial warehouse and distribution buildings ranging in size from 15,000 sq ft (1,400 m ) to 330,000 sq ft (31,000 m ), and
1050-428: A last-minute rival bid. On 18 March 2020, Connect Airways entered administration. On 27 April 2020, Stobart Group bought back Stobart Air and Propius Leasing from Connect Airways administrators EY , for an initial payment of £300,000 and deferred consideration that could total £8.25 million. In April 2021, Isle of Man -based company Ettyl reached an agreement to buy Stobart Air and Carlisle Lake District Airport. At
1155-412: A licence. It also set a fixed number of brokers (at 100), but this was later increased as the size of the trade grew. This limit led to several problems, one of which was that traders began leaving the Royal Exchange, either by their own decision or through expulsion, and started dealing in the streets of London. The street in which they were now dealing was known as ' Exchange Alley ', or 'Change Alley'; it
SECTION 10
#17327722938561260-505: A multi-modal logistics company operating across the road, rail and ports sectors, which between 2007 and 2014 was Stobart Group's main operation, when it was a wholly owned subsidiary. On 11 October 2010, the Stobart Group announced that it was purchasing 35 convertible preference shares of €1 each in the parent company of the Irish airline Aer Arann , Everdeal Ltd, through its subsidiary Aer Arann UK Ltd, for €2.5 million, enabling it to have
1365-570: A new and bigger building was planned, at Capel Court. William Hammond laid the first foundation stone for the new building on 18 May. It was finished on 30 December when "The Stock Exchange" was incised on the entrance. In the Exchange's first operating years, on several occasions there was no clear set of regulations or fundamental laws for the Capel Court trading. In February 1812, the General Purpose Committee confirmed
1470-432: A new war. The main concerns included air raids and the subsequent bombing of the Exchange's perimeters, and one suggestion was a move to Denham , Buckinghamshire. This however never took place. On the first day of September 1939, the Exchange closed its doors "until further notice" and two days later World War II was declared. Unlike in the prior war, the Exchange opened its doors again six days later, on 7 September. As
1575-418: A number of boardroom changes. The Non-Executive Chairman, Rodney Baker-Bates, was demoted to Non-Executive Director, whilst Avril Palmer-Baunack, the former Chief Executive of Autologic and now Deputy Chief Executive of Stobart Group, was promoted to Executive Chairman. Her remit was to sell off under-performing parts of the business. In April 2013, Stobart Group announced that Palmer-Baunack would be leaving
1680-426: A reputation locally for being slightly reckless with various incidents occurring during the period that Specialist Flight Training were operational at the airport. In 1997, the council agreed to extend the runway to allow Boeing 737s to land into a new air-cargo hub, but the proposal collapsed. As the airport had lost £3.5 million on operations between 1979 and 1994, Carlisle City Council agreed to sell
1785-586: A result of this, the group's largest shareholder Toscafund Asset Management, would increase its shareholding to 27.56%. It also announced that as a result of concentrating on its airports and aviation services businesses, it had decided to divest all its non-core assets to raise further cash, by selling its remaining stake in Eddie Stobart Logistics , and Stobart Air , Propius, Stobart Rail & Civils , Stobart Energy and all its remaining non-core commercial properties. Stobart Group Ltd confirmed
1890-452: A set of recommendations, which later became the foundation of the first codified rule book of the Exchange. Even though the document was not a complex one, topics such as settlement and default were, in fact, quite comprehensive. With its new governmental commandments and increasing trading volume, the Exchange was progressively becoming an accepted part of the financial life in the city. In spite of continuous criticism from newspapers and
1995-528: A stock market listing. Westbury acquired the ultimate Eddie Stobart Ltd holding company, Stobart Holdings Ltd, from W.A. Developments International Ltd for £137.7 million: £62 million in cash and £76 million in new Westbury Property Fund shares. The renamed Westbury group then became the London Stock Exchange listed Stobart Group Ltd, with Andrew Tinkler and William Stobart becoming substantial shareholders holding 20% and 8.5% respectively of
2100-617: A vendor loan note, and the remaining £5 million was to be paid on the completion of the London Southend Airport expansion plans in July 2012. In June 2023, Esken confirmed it had put London Southend Airport up for sale. It was purchased by Carlyle in March 2024. In 2006, Stobart had also been considering expanding into the air freight business. On 7 April 2006 Haughey Airports Ltd – the company which operated Carlisle Airport –
2205-494: Is being marketed as of 2017. On 1 October 2015, Brampton and Beyond Energy Ltd (BABE) in conjunction with Stobart Energy announced plans to build a £1.5 million anaerobic digester renewable energy plant on a piece of woodland to the west of the site by 2018. In May 2024, the new owners A W Jenkinson announced their plans for the airport. Carlisle Lake District Airport covers 460 acres (190 ha), of which 212 acres (86 ha) are used for airport-related activities, and
SECTION 20
#17327722938562310-555: Is classified as a Multilateral Trading Facility (MTF) under the 2004 MiFID directive, and as such it is a flexible market with a simpler admission process for companies wanting to be publicly listed. The securities available for trading on LSE: Through the Exchange's Italian arm, Borsa Italiana , the London Stock Exchange Group as a whole offers clearing and settlement services for trades through CC&G (Cassa di Compensazione e Garanzia) and Monte Titoli.
2415-685: Is the Groups Central Counterparty and covers multiple asset classes throughout the Italian equity, derivatives and bond markets. CC&G also clears Turquoise derivatives. Monte Titoli is the pre-settlement, settlement, custody and asset services provider of the Group. Monte Titoli operates both on-exchange and OTC trades with over 400 banks and brokers. The LSE's trading platform is its own Linux -based edition named Millennium Exchange . Their previous trading platform TradElect
2520-520: The London Stock Exchange as the Stobart Group , Carlisle Lake District Airport initially remained within the ownership of WA Developments, through its subsidiary Stobart Air Holdings. On 10 March 2008, the Stobart Group entered into a £50,000 option, expiring in July 2008, to acquire Carlisle Lake District Airport from Stobart Air Holdings for £15 million (£2.5 million in cash and £12.5 million in new Stobart Group shares). This option
2625-670: The London Stock Exchange Group (LSEG, which the exchange also lists (ticker symbol LSEG)). Despite a post- Brexit exodus of stock listings from the London Stock Exchange, the LSE was the most valued stock exchange in Europe as of 2023. According to the 2020 Office for National Statistics report, approximately 12% of UK-resident individuals reported having investments in stocks and shares. According to
2730-519: The Manchester and Liverpool stock exchanges were opened. Some stock prices sometimes rose by 10%, 20% or even 30% in a week. These were times when stockbroking was considered a real business profession, and such attracted many entrepreneurs. Nevertheless, with booms came busts, and in 1835 the "Spanish panic" hit the markets, followed by a second one two years later. By June 1853, both participating members and brokers were taking up so much space that
2835-943: The Mayor of the Tees Valley , Ben Houchen , who in January 2019 brought Durham Tees Valley Airport back into public ownership, unveiled Stobart Aviation as the new operators of the airport. Stobart manage the airport on behalf of the Tees Valley Combined Authority and invested in a 25% stake in the new airport company. The airport reverted to its previous name of Teesside International Airport in July 2019. Star Handling (formerly Stobart Aviation Services) offers landside and airside services to time critical logistics operations, whilst working alongside airline partners and airports. It has operations at London Stansted Airport , Manchester Airport and London Southend Airport . In May 2023, Esken announced they had completed
2940-454: The "Eddie Stobart" and "Stobart" trademarks to Eddie Stobart Logistics, in May 2020, for £10m. In April 2021, it was announced that Stobart Air and Carlisle Lake District Airport would be sold to Isle of Man -based company Ettyl, with Esken retaining its aviation activities at London Southend Airport . However, the deal fell through after Stobart Air entered liquidation. London Southend Airport
3045-745: The 1960s before being sold to Haughey Airports in 2000 which was later purchased and rebranded as Stobart Air Limited. Stobart Group purchased Carlisle Airport in May 2009 for £9.9 million and constructed a £12 million freight distribution center. In July 2019, a new terminal was opened that briefly connected Carlisle with commercial flights to Belfast, Dublin & London but due to the COVID-19 pandemic, commercial flights ceased operating in April 2020. Since its partial re-opening post COVID-19, it now operates unlicensed and welcomes general aviation aircraft, as well as being host to several military exercises throughout
3150-570: The Cumbria Local Enterprise Partnership, there were plans for passenger flights from June 2018 "to major tourism and business hubs including London, Dublin and Belfast" but the target date was postponed. On 4 July 2019 the new terminal was officially opened, and the first scheduled passenger flights since 1993 were commenced by Loganair to Belfast–City , Dublin , London–Southend until 2021. Under Stobart Group ownership between 2006 and 2009, some development
3255-711: The Electronic Trading Service (SETS) was launched, bringing greater speed and efficiency to the market. Next, the CREST settlement service was launched. In 2000, the LSE's shareholders voted to become a public limited company, London Stock Exchange plc. The LSE also transferred its role as the United Kingdom's listing authority to the Financial Services Authority . EDX London , an international equity derivatives business,
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3360-596: The Exchange for improved breathing space and to extend the August Bank Holiday to prohibit a run on banks, was hurried through by the committee and Parliament , respectively. The Stock Exchange ended up being closed from the end of July until the New Year, causing street business to be introduced again, as well as the "challenge system". The Exchange was set to open again on 4 January 1915 under tedious restrictions: transactions were to be in cash only. Due to
3465-498: The Exchange was now uncomfortably crowded, and continual expansion plans were taking place. Having already been extended west, east, and northwards, it was then decided the Exchange needed an entire new establishment. Thomas Allason was appointed as the main architect, and in March 1854, the new brick building inspired from the Great Exhibition stood ready. This was a huge improvement in both surroundings and space, with twice
3570-591: The Exchange. On 20 July 1990, a bomb planted by the Provisional Irish Republican Army (IRA) exploded in the men's toilets behind the visitors' gallery. The area had already been evacuated and nobody was injured. About 30 minutes before the blast at 8:49 a.m., a man who said he was a member of the IRA told Reuters that a bomb had been placed at the exchange and was about to explode. Police officials said that if there had been no warning,
3675-623: The Group announced a Placing and Open Offer (similar to a rights issue ) of 77,339,766 new ordinary shares in the Stobart Group at 155p each to raise net proceeds of £114.9 million. The Group also announced it was buying the remaining 50% of Stobart Biomass Products it did not already own for £20 million. In January 2012, the Group announced it was buying back its former commercial property portfolio which it sold to WA Developments in 2007, by acquiring WADI Properties Ltd for £12.35 million. In January 2013, following an under-performing share price, Stobart Group's largest shareholder, Invesco , initiated
3780-486: The Group in the next month. In October 2013, Stobart Group appointed Iain Ferguson CBE as independent Non-Executive Chairman. In March 2014, the group announced its intention to re-position itself as an Infrastructure and Support Services business, with the sale of its main transport and distribution business to Douglas Bay Capital for £280.8 million: £195.6 million in cash and £44.1 million in shares (and therefore
3885-516: The LSE merged with Borsa Italiana , creating London Stock Exchange Group (LSEG). The Group's headquarters are in Paternoster Square . Paternoster Square was the initial target for the protesters of Occupy London on 15 October 2011. Attempts to occupy the square were thwarted by police. Police sealed off the entrance to the square as it is private property, a High Court injunction having previously been granted against public access to
3990-691: The LSE: the main market and the alternative investment market. The main market is home to over 1,300 large companies from 60 countries. The FTSE 100 Index ("footsie") is the main share index of the 100 most highly capitalised British companies listed on the Main Market. The Alternative Investment Market is LSE's international market for smaller companies. A wide range of businesses including early-stage, venture capital -backed, as well as more-established companies join AIM seeking access to growth capital. The AIM
4095-623: The Managing Director William Stobart became COO of the renamed Stobart Group, which subsequently diversified into other sectors. After boardroom changes in 2013, in 2014 a 51% stake in its original transport business was sold, becoming Eddie Stobart Logistics with William Stobart as its CEO. The Group retained the rights to the brand Eddie Stobart, licensing it out to the new company. With Andrew Tinkler remaining CEO at Stobart Group, it re-positioned itself around its remaining interests. In June 2018, Andrew Tinkler left
4200-476: The Royal Exchange hosted all transactions where foreign parties were involved. The constant increase in overseas business eventually meant that dealing in foreign securities had to be allowed within all of the Exchange's premises. Just as London enjoyed growth through international trade, the rest of Great Britain also benefited from the economic boom. Two other cities in particular showed great business development: Liverpool and Manchester. Consequently, in 1836 both
4305-659: The Stobart Group. In return, Westbury sold the bulk of its commercial property portfolio, Westbury Properties Ltd., to another WA Developments subsidiary, WADI Properties Ltd., for £142.0 million in cash, thereby retaining the assets under the control of Andrew Tinkler and William Stobart (the owners of WA Developments), while being outside the new group. The enlarged Stobart Group diversified into other sectors, making acquisitions including WA Developments Ltd from W A Developments Holdings Ltd in 2008, London Southend Airport in 2008, Carlisle Lake District Airport in 2009 and 50% of A. W. Jenkinson Biomass Ltd in 2010. On 21 April 2011,
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4410-558: The Stobart-owned London Southend Airport would be sustainable." Planning approval was subsequently overturned in the High Court in March 2014. On 19 March 2014, Aer Arann changed its name to Stobart Air . Following a change in the law which no longer required Stobart Air to prove that the airport would have to be viable, planning permission was re-granted on 18 August 2014. No application for
4515-507: The Virgin Atlantic brand. Flybe and Stobart Air would however retain their own Air Operator Certificates and Stobart Air's other wet lease operations and its aircraft leasing business would continue unchanged. On 15 January 2019, Connect Airways announced an increased offer, which Flybe's board accepted. Flybe's operating assets were transferred to Connect Airways on 21 February 2019, despite a last-minute rival bid. On 5 March 2020,
4620-559: The acquisition completed it provided a further £80 million. The consortium's aim was to combine Flybe and Stobart Air with Virgin Atlantic to create an integrated carrier operating under the Virgin Atlantic brand. Flybe and Stobart Air would have however retained their own Air Operator Certificates and Stobart Air's other wet lease operations and its aircraft leasing business would have continued unchanged. Flybe's operating assets were transferred to Connect Airways on 21 February 2019, despite
4725-610: The aircraft leasing firm through which many of the Stobart Air aircraft are sourced. In February 2018, it was reported that Stobart was considering purchasing 100% of Flybe for whom it operated flights from London Southend. On 11 January 2019, the Connect Airways consortium formed by Stobart Aviation and Virgin Atlantic announced a takeover bid for Flybe. The consortium initially lent £20 million to enable Flybe to continue operations, and also took over Stobart Air; after
4830-604: The airport on a 150-year lease to Haughey Airports in 2000. The company was owned by Northern Irish entrepreneur Edward Haughey , who owned nearby Corby Castle in Cumbria . Haughey invested £4 million in infrastructure improvements but, whilst promising to provide additional facilities and enhancements to the site for the Solway Aviation Museum , he sold the airfield to WA Developments Limited in 2006 before achieving this. On 7 April 2006, Haughey Airports
4935-597: The airport would have begun early 2010 and hoped that flights to Paris , Belfast and Dublin would be in operation by 2011. On 14 December 2010, Stobart Air submitted proposals to build a 394,000 sq ft (36,600 m ) Air Freight Distribution Centre on the site. Under the plans, Eddie Stobart Logistics would relocate all its Carlisle depots to the airport, and there would be passenger flights to and from London Southend Airport , operated by Aer Arann which would base an ATR 42 aircraft at Carlisle. Further details on jobs and flights were supplied in support of
5040-402: The airport, controlled by WA Developments through Stobart Air Holdings. In January 2009, Stobart Group's subsidiary, Stobart Airports Ltd, exercised its option to acquire Carlisle Lake District Airport from Stobart Air Holdings for £14 million (£1 million less than originally announced). Following an independent shareholder vote, the acquisition was completed in May 2009, and the purchase price
5145-593: The airport. In August 2020, during the COVID-19 pandemic in the United Kingdom , part of the site was used as a Coronavirus test facility. Although not present during the COVID-19 pandemic between 2020 and 2022, the Royal Netherlands Air Force has been holding their annual low flying exercise "Tac Blaze" over the nearby RAF Spadeadam range while based at the airport since 2006. The exercise involves around 400 personnel and aims at training
5250-452: The application in July 2011. On 3 August 2012, Stobart Air was given permission by Carlisle City Council to develop the airport under these proposals. These included the raising and reprofiling of the main runway at the airport. The warehousing contracts would deliver the rental income required to help upgrade the airport facilities and allow passenger flights to commence. Aer Arann identified that passenger routes from Carlisle to Dublin and
5355-399: The balance of 248 acres (100 ha) is in the process of being developed for logistics and aviation-related activities. Its main activity presently provides facilities for flight training and sightseeing flights. The airport is host to these businesses: Carlisle Flight Training and Aero Club, Border Air Training and Northumbria Helicopters. Solway Aviation Museum occupies a small part of
SECTION 50
#17327722938565460-628: The borough boundaries which later became RAF Kingstown and is now Kingstown and Kingmoor industrial estates and business parks. With the outbreak of war in 1939, RAF Kingstown's runway was too small for bombers, so the Royal Air Force developed a new airstrip at Crosby-on-Eden to the east of Carlisle, on the line of the Stanegate Roman road. The new facility came into operation in February 1941 for training operations, designating
5565-413: The command of 109 OTU, a transport command of Douglas Dakotas . The station was renamed 1383 TCU on 1 August 1945. However, the station had no postwar use or need, and was closed in 1947 with the airfield returning to Carlisle City Council to continue as a municipal airport. In 1960 Cumberland County Council purchased the site and renamed it Carlisle Airport . After a short refurbishment programme it
5670-496: The company and in May 2020, Stobart Group announced the sale of the Eddie Stobart and Stobart brand names to Eddie Stobart Logistics, requiring it to change its corporate name by February 2021. In January 2021, Stobart Group announced that following shareholder approval, it would change its name to "Esken Limited" in February 2021. The company was listed on the London Stock Exchange . However, unlike most UK public companies,
5775-570: The company retained its " Ltd " status as it is incorporated in Guernsey and not England & Wales , Scotland or Northern Ireland , which would require it to change its suffix to " plc " status. The company went into administration on 21 March 2024. The company started out as the Westbury Property Fund Limited, a closed ended real estate investment fund based in Guernsey established in January 2002 by Investment Manager Richard Burrell. In August 2006, realising that property prices were reaching
5880-478: The company. Also on 13 January 2020, Toscafund announced that it owned 11.70% of the Stobart Group, this was subsequently increased to 18.8%. On 21 May 2020, the firm announced that it had sold the intellectual property rights to the "Eddie Stobart" and "Stobart" brand names for £10 million to Eddie Stobart Logistics to end confusion with its investors. This means that the Stobart Group would change its corporate name by 28 February 2021. It did not reveal whether it
5985-440: The consortium was unable to commit further financial support and Flybe entered administration, ceasing all operations. On 18 March 2020, Connect Airways in turn entered administration. On 10 March 2008 the Stobart Group acquired W. A. Developments Ltd from W. A. Developments International Ltd, for £15 million (£2.5 million in cash and £12.5 million in new Stobart Group shares). At the beginning of June 2008, W. A. Developments Ltd.
6090-433: The disposal of Star Handling to a subsidiary of Prime Flight Aviation Services for £3.46 million, with a further £1.34 million payable based upon the business meeting its revenue forecasts over the following year. On 24 March 2010, the Stobart Group announced the purchase of 50% of A. W. Jenkinson Biomass Ltd, from A. W. Jenkinson Forest Products, for £30 million, as an equal mix of cash and shares. A. W. Jenkinson Biomass Ltd
6195-489: The duration that a length of tallow candle could burn; these were known as "by inch of candle" auctions. As stocks grew, with new companies joining to raise capital, the royal court also raised some monies. These are the earliest evidence of organised trading in marketable securities in London. After Gresham's Royal Exchange building was destroyed in the Great Fire of London , it was rebuilt and re-established in 1669. This
6300-527: The end of May, it emerged that Ettyl's intended financing had not materialised, postponing completion of the deal. Stobart Air was closed and began liquidation in June 2021. The Moneypenny Property Portfolio comprises the company's portfolio of properties, including retail sites, light industrial buildings and distribution centres, office space and holdings which are owned or used in the Group's day-to-day business. It also includes WADI Properties Ltd. In return for
6405-518: The financial industry "and the corrosive impacts of the ... sector on the world we live in" and activists also blocked entrances to HM Treasury and the Goldman Sachs office on Fleet Street . On 3 March 2022 the LSE declared it would suspend trading in GDR securities for Russian firms, subsequent to the 2022 Russian invasion of Ukraine . There are two main markets on which companies trade on
SECTION 60
#17327722938566510-613: The financial markets in the UK in 1986. The phrase "Big Bang" was coined to describe measures, including abolition of fixed commission charges and of the distinction between stockjobbers and stockbrokers on the London Stock Exchange, as well as the change from an open outcry to electronic, screen-based trading . In 1995, the Exchange launched the Alternative Investment Market , the AIM, to allow growing companies to expand into international markets. Two years later,
6615-538: The floor space available. By the late 1800s, the telephone, ticker tape , and the telegraph had been invented. Those new technologies led to a revolution in the work of the Exchange. As the financial centre of the world, both the City and the Stock Exchange were hit hard by the outbreak of World War I in 1914. Due to fears that borrowed money was to be called in and that foreign banks would demand their loans or raise interest, prices surged at first. The decision to close
6720-488: The floor. Second, in March the London Stock Exchange formally merged with the eleven British and Irish regional exchanges, including the Scottish Stock Exchange . This expansion led to the creation of a new position of chief executive officer ; after an extensive search this post was given to Robert Fell. There were more governance changes in 1991, when the governing Council of the Exchange was replaced by
6825-490: The human toll would have been very high. The explosion ripped a hole in the 23-storey building in Threadneedle Street and sent a shower of glass and concrete onto the street. The long-term trend towards electronic trading platforms reduced the Exchange's attraction to visitors, and although the gallery reopened, it was closed permanently in 1992. The biggest event of the 1980s was the sudden de-regulation of
6930-497: The limitations and challenges on trading brought by the war, almost a thousand members quit the Exchange between 1914 and 1918. When peace returned in November 1918, the mood on the trading floor was generally cowed. In 1923, the Exchange received its own coat of arms , with the motto Dictum Meum Pactum , My Word is My Bond. In 1937, officials at the Exchange used their experiences from World War I to draw up plans for how to handle
7035-420: The long-term strategies of the joint company is to expand Borsa Italiana's efficient clearing services to other European markets. In 2007, after Borsa Italiana announced that it was exercising its call option to acquire full control of MBE Holdings; thus the combined Group would now control Mercato dei Titoli di Stato, or MTS. This merger of Borsa Italiana and MTS with LSE's existing bond-listing business enhanced
7140-631: The new group. Westbury Properties Ltd, owned Moneypenny Ltd, (known as the Moneypenny Property Portfolio) at the time comprised 18 freehold and long leasehold properties, a mixture of commercial, industrial and residential properties primarily in the South-East. Because of a fall in property values during 2007–2011, the Stobart Group also announced an option to buy back Westbury Properties Ltd. from WADI Properties Ltd. expiring on 15 August 2011, as some of its properties, owned by
7245-757: The peak of the market, the Westbury Property Fund decided to re-position its portfolio towards the logistics sector, buying Weston Point Docks in Runcorn , AHC Warehousing and the rail operations of Victa Westlink Rail in March 2007. It then agreed an asset swap deal in August 2007 with the privately owned investment company WA Developments , whereby Westbury would sell 90% of its non-logistics related property portfolio to WA Developments in return for its Eddie Stobart Ltd subsidiary. Eddie Stobart Chairman Andrew Tinkler became CEO, whilst his brother-in-law,
7350-438: The peak of the market, the Westbury Property Fund decided to re-position its portfolio towards the logistics sector, by buying Weston Point Docks in Runcorn , AHC Warehousing and the rail operations of Victa Westlink Rail in March 2007. The company was created on 15 August 2007 when the Westbury Property Fund entered into a reverse acquisition by the Eddie Stobart Logistics business, which enabled Eddie Stobart Logistics to gain
7455-489: The public, the government used the Exchange's organised market (and would most likely not have managed without it) to raise the enormous amount of money required for the wars against Napoleon. After the war and facing a booming world economy, foreign lending to countries such as Brazil, Peru and Chile was a growing market. Notably, the Foreign Market at the Exchange allowed for merchants and traders to participate, and
7560-518: The range of covered European fixed income markets. London Stock Exchange Group acquired Turquoise , a Pan-European MTF, in 2009. Carlisle Lake District Airport Carlisle Lake District Airport ( IATA : CAX , ICAO : EGNC ) is a small airport located 5 NM (9.3 km; 5.8 mi) east north-east of Carlisle , England on a plain near the River Irthing . Originally opened as an RAF base, it came under government ownership in
7665-401: The reverse takeover deal in 2007 which saw Westbury become the new Stobart Group, Westbury sold the bulk of its commercial property portfolio, Westbury Properties Ltd., to another WA Developments subsidiary, WADI Properties Ltd., for £142.0 million in cash, thereby enabling these assets to also be controlled by Andrew Tinkler and William Stobart (the owners of WA Developments), while being outside
7770-591: The runways. During the early 1980s Carlisle Airport was used by Specialist Flight Training to train military pilots in helicopters and fixed wing aircraft. Notably, the training of Iraqi pilots for the Iran-Iraq War was a key part of the programme. Specialist Flight Training had at least seven Gazelle helicopters which, at the time were registered sequentially from G-SFTA to G-SFTG together with at least two Firecracker fixed wing aircraft registered, at that time, as G-SFTR and G-SFTS. The trainee pilots had
7875-464: The sale of Stobart Rail & Civils to Bavaria Industries Group AG on 14 July 2020, for an initial cash consideration of £1,000. Stobart Group confirmed on 11 January 2021 that, subject to shareholder approval, it would change its name to "Esken Limited" (meaning 'to ascend, to climb and to rise'; related to the Latin ascendo and the modern Welsh esgyn on 3 February 2021. The group had sold
7980-612: The site. A lorry driving training company, System Training, is based at Carlisle Airport Business Park, a site opposite Carlisle Lake District Airport, and was featured in Series 2, Episode 7 of the Channel 5 TV programme Eddie Stobart: Trucks & Trailers , first aired on 30 June 2011. Edd Stobart, the 20-year-old son of Stobart Group Chief Operating Officer William Stobart , passed his HGV Class 2 driving licence using that school. ECM (Vehicle Delivery Service) Ltd has its HQ at
8085-532: The square. The protesters moved nearby to occupy the space in front of St Paul's Cathedral . The protests were part of the global Occupy movement . On 25 April 2019, the final day of the Extinction Rebellion disruption in London, 13 activists glued themselves together in a chain, blocking the entrances of the LSE. The protesters were all later arrested on suspicion of aggravated trespass. Extinction Rebellion had said its protesters would target
8190-420: The station RAF Crosby-on-Eden . Originally housing No. 59 Operational Training Unit, the station provided day training for Hawker Hurricane pilots, which was replaced by No. 9 OTU, 17 Group , Coastal Command in August 1942, for training long-range fighter crews on Bristol Beaufort and Bristol Beaufighter conversion squadrons, as well as air firing and night flying. In August 1944 the station came under
8295-412: The stock room pay an increased fee. This was not met well and ultimately, the solution came in the form of annual fees and turning the Exchange into a Subscription room. The Subscription room created in 1801 was the first regulated exchange in London, but the transformation was not welcomed by all parties. On the first day of trading, non-members had to be expelled by a constable. In spite of the disorder,
8400-528: The surprise £21 million purchase of London Southend Airport , through its subsidiary Stobart Airports Ltd from Regional Airports Ltd (who also own London Biggin Hill Airport ). The deal completed on 5 December 2008. At the time, the book value of London Southend Airport's assets were £25.5 million, and the acquisition was later described as a "bargain purchase" by the Stobart Group. The deal was paid as to £10 million in new Stobart Group shares, £6 million by
8505-495: The top, and middle floors let out to affiliate companies. Queen Elizabeth II opened the building on 8 November 1972; it was a new City landmark, with its 23,000 sq ft (2,100 m ) trading floor. 1973 marked a year of changes for the Stock Exchange. First, two trading prohibitions were abolished. A report from the Monopolies and Mergers Commission recommended the admittance of both women and foreign-born members on
8610-415: The vicinity, notably Jonathan's Coffee-House . At that coffee house, a broker named John Castaing started listing the prices of a few commodities including salt, coal, paper, and exchange rates in 1698. Originally, this was not a daily list and was only published a few days of the week. This list and activity was later moved to Garraway's coffee house. Public auctions during this period were conducted for
8715-425: The war escalated into its second year, the concerns for air raids were greater than ever. Eventually, on the night of 29 December 1940, one of the greatest fires in London's history took place. The Exchange's floor was hit by a clutch of incendiary bombs , which were extinguished quickly. Trading on the floor was now drastically low and most was done over the phone to reduce the possibility of injuries. The Exchange
8820-458: The year. There is Avgas, JetA1 and F34 fuel available during operating hours. The airport has been the location for some prehistoric excavations. It also hosts the Solway Aviation Museum . Since 2024, it has been owned and operated by forest products company A.W. Jenkinson. In the early 1930s, the City of Carlisle County Borough Council opened Kingstown Municipal Airport, at the time outside
8925-429: Was a move away from coffee houses and a step towards the modern model of stock exchange. The Royal Exchange housed not only brokers but also merchants and merchandise. This was the birth of a regulated stock market, which had teething problems in the shape of unlicensed brokers. In order to regulate these, Parliament passed an Act in 1697 that levied heavy penalties, both financial and physical, on those brokering without
9030-437: Was acquired by Eddie Stobart's parent company WA Developments , through a subsidiary company Stobart Air Holdings Ltd. Haughey Airports Ltd was then renamed Stobart Air Ltd. After the reverse takeover in 2007, the Stobart Air operation remained outside the enlarged Stobart Group, i.e. it was still owned by WA Developments. The March 2008 purchase by the group of W. A. Developments Ltd included a £50,000 option agreement to purchase
9135-505: Was acquired by WA Developments, which had acquired Eddie Stobart Ltd. in February 2004. Haughey Airports Ltd was renamed Stobart Air Ltd and a sub-division within WA Developments called Stobart Air was formed. The airport was then re-branded Carlisle Lake District Airport . Following WA Developments' decision to merge Eddie Stobart with the property and ports company the Westbury Property Fund on 15 August 2007 and to list it on
9240-586: Was announced that Warwick Brady would become the Group CEO from the June AGM , with Andrew Tinkler remaining as an Executive Board Member and also heading up Stobart Capital, a new venture independent of the Stobart Group. On Thursday 14 June 2018, it was announced that Stobart Group had removed its executive director and former Chief Executive Andrew Tinkler from its board of directors. On 13 January 2020, Andrew Tinkler sold his remaining 4.975% shareholding in
9345-582: Was announced that the LSE would merge with the Deutsche Börse ; however this fell through. On 23 June 2007, the LSE announced that it had agreed on the terms of a recommended offer to the shareholders of the Borsa Italiana S.p.A. The merger of the two companies created a leading diversified exchange group in Europe. The combined group was named the London Stock Exchange Group, but still remained two separate legal and regulatory entities. One of
9450-428: Was based on Microsoft's .NET Framework , and was developed by Microsoft and Accenture. Despite TradElect only being in use for about two years, after suffering multiple periods of extended downtime and unreliability the LSE announced in 2009 that it was planning to switch to Linux in 2010. The main market migration to MillenniumIT technology was successfully completed in February 2011. The previous system, SETS,
9555-546: Was changed from Stobart Energy to Esken Renewables. In March 2023, it was reported Esken had begun the process of selling Esken Renewables. London Stock Exchange The London Stock Exchange ( LSE ) is a stock exchange based in London , England. As of August 2023, the total market value of all companies trading on the LSE stood at $ 3.18 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral . Since 2007, it has been part of
9660-497: Was completed on 28 February 2012. On 11 January 2019, the Connect Airways consortium formed by Stobart Aviation and Virgin Atlantic announced a takeover bid for Flybe. The consortium will initially lend £20 million to enable Flybe to continue operations, and will also take over Stobart Air; after the acquisition is complete it will provide a further £80 million. The consortium's aim is to combine Flybe and Stobart Air with Virgin Atlantic to create an integrated carrier operating under
9765-474: Was created in 2003 in partnership with OM Group. The Exchange also acquired Proquote Limited, a new generation supplier of real-time market data and trading systems. The old Stock Exchange Tower became largely redundant with Big Bang, which deregulated many of the LSE's activities: computerised systems and dealing rooms replaced face-to-face trading. In 2004, the LSE moved to a brand-new headquarters in Paternoster Square , close to St Paul's Cathedral . In 2007,
9870-410: Was extended in July 2008 until January 2009 for a further £50,000. In January 2009, Stobart Group 's subsidiary, Stobart Airports Ltd, exercised its option to acquire Carlisle Lake District Airport from Stobart Air Holdings for £14 million (£1 million less than originally announced). Following an independent shareholder vote, the acquisition was completed on 30 May 2009, and the purchase price
9975-404: Was going to revert to its original name Westbury or would adopt an entirely new name. On 4 June 2020, the firm announced another Placing and Open Offer consisting of 200,046,312 Firm Placed Shares and 49,953,688 Open Offer Shares at 40p each to raise gross proceeds of £100 million to provide additional liquidity and to enable its Aviation division to deliver on its long-term strategic ambitions. As
10080-626: Was introduced in October 1997 and used until 2007. The London Market Information Link, a COBOL application running on a HP Tandem server was used to disseminate market data to terminals before being replaced by Infolect. The LSE facilitates stock listings in a currency other than its "home currency". Most stocks are quoted in GBP but some are quoted in EUR while others are quoted in USD. On 3 May 2000, it
10185-525: Was licensed in 1961 for training purposes and civilian flights to destinations including London , the Channel Islands , Belfast and the Isle of Man . In 1968 the airport was transferred to Carlisle City Council . Most of the original RAF structures remain intact today, although a lack of investment and maintenance has restricted much of the perimeter road, as well as shortening and weight restricting
10290-484: Was only closed for one more day during wartime, in 1945 due to damage from a V-2 rocket . Nonetheless, trading continued in the house's basement. After decades of uncertain if not turbulent times, stock market business boomed in the late 1950s. This spurred multiple officials to find new, more suitable accommodation. The work on the new Stock Exchange Tower began in 1967. The Exchange's new 321 feet (98 metres) high building had 26 storeys with council and administration at
10395-409: Was planned for Carlisle Lake District Airport which would have seen the introduction of freight and passenger services in the future, along with the resurfacing of the existing runway to accept larger aircraft as part of a £21 million development. Plans were announced to redevelop the airport site to include a new passenger terminal, an air freight service, a new headquarters for Eddie Stobart, and
10500-411: Was reduced to £9.9 million due to a fall in the value of Stobart Group shares. In April 2021, Isle of Man based Ettyl Ltd announced it had agreed to purchase Carlisle Airport, together with airline Stobart Air, from Esken. However, the transaction fell through two months later due to funding issues. Stobart Investments included the group's remaining 11.8% stake in the Eddie Stobart Logistics business,
10605-451: Was reduced to £9.9 million due to a fall in the value of Stobart Group shares. Between December 2014 and September 2015, a £12 million freight distribution centre was built on the south-eastern corner of the site, which is now leased to Eddie Stobart Logistics . Stobart Group also intended to build a further warehousing and distribution hub from 2017 on land adjacent to the freight distribution centre. After financial assistance from
10710-540: Was renamed Stobart Rail Ltd and became responsible for all the railway maintenance and infrastructure activities of the group. Stobart Rail operates the Southend Airport railway station which it opened on 18 July 2011. On 14 July 2020, the Stobart Group Ltd confirmed the sale of Stobart Rail & Civils to Bavaria Industries Group AG for an initial cash consideration of £1,000. On 14 March 2019,
10815-516: Was sold to the US Private Equity corporation Carlyle in March 2024 in a deal which led to Esken delisting from the London Stock Exchange. After the company's restructuring plan was found to be "no longer commercially viable", the business went into administration on 21 March 2024. Figures below show the recent results for the Group; the financial year runs to the last day of February each year: On 2 December 2008, Stobart Group announced
10920-622: Was suitably placed close to the Bank of England . Parliament tried to regulate this and ban the unofficial traders from the Change streets. Traders became weary of "bubbles" when companies rose quickly and fell, so they persuaded Parliament to pass a clause preventing "unchartered" companies from forming. After the Seven Years' War (1756–1763), trade at Jonathan's Coffee House boomed again. In 1773, Jonathan, together with 150 other brokers, formed
11025-409: Was then renamed Stobart Biomass Products Ltd. Stobart Biomass transports sustainable wood products for use in low-carbon emission power plants, producing electricity at both large- and small-scale power plants, including for export. The Stobart Group also announced it was buying the remaining 50% of Stobart Biomass Products it did not already own for £20 million. On 25 April 2022, the name of the business
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