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LONDON - Aston Martin (LON:AML) Lagonda Global Holdings plc addressed recent media reports today, clarifying comments made by Executive Chairman Lawrence Stroll about the proposed investment by the Yew Tree Consortium. The company underscored that Stroll’s remarks, which followed the announcement of the investment plan earlier today, were not intended to trigger any formal obligations under the City Code on Takeovers and Mergers.
The Takeover Panel Executive has confirmed that the comments will not be considered as an announcement of a possible offer or an intention not to make an offer. The investment by the Yew Tree Consortium, if approved, could result in an increase of their shareholding in Aston Martin to a maximum of 35% of the issued share capital.
To facilitate this potential investment, Aston Martin plans to seek a waiver from the Takeover Panel and will require the approval of the waiver by the independent shareholders at a forthcoming general meeting. The company will issue a circular to its shareholders with details of the meeting and the resolution to be voted on.
Aston Martin, known for its luxury performance cars such as the Vantage, DB12, and the DBX707 SUV, has a vision to be the world’s most desirable ultra-luxury British brand. The company is also moving towards a sustainable future with a commitment to electrifying its vehicle lineup between 2025 and 2030.
This clarification comes as the company continues to navigate the complexities of corporate investments and shareholder relations. The information provided in this article is based on a press release statement from Aston Martin Lagonda Global Holdings plc.
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