Aston Martin capital raise subscribed after Mercedes deal boosts shares October 28, 2020 Aston Martin has said all shares available in its £125m capital raise have been placed or subscribed, as it looks to turnaround its business. The capital raise, which represents approximately 13.7 per cent of the company’s shares, comprised 250m shares at a price of 50p per share. Shares in the beleaguered carmaker jumped 6.24 per [...]
Bespoke Aston Martin Vanquish 25 is a retro supercar dream July 25, 2020 Die Another Day certainly isn’t the best Bond film – and frankly, Pierce Brosnan isn’t the best Bond. But the Aston Martin Vanquish might be the coolest car modified by Q Branch. Having shaped the Vanquish two decades ago, Ian Callum has now modified one, too. The famous car designer’s new company – simply called [...]
Aston Martin seeks to raise £152m to bolster finances June 26, 2020 Aston Martin today said it will ask investors to snap up £152m of new shares to help it become roadworthy once more amid sinking sales and the coronavirus pandemic. Britain’s luxury car manufacturer said the equity raise, planned for the end of June, would be equivalent to around 20 per cent of its existing issued [...]
Aston Martin appoints new finance chief as board shake-up continues June 22, 2020 Aston Martin today announced that Kenneth Gregor would join the iconic carmaker as its new finance chief as the firm continues its business reset after a tumultuous two years. Gregor, who joins the firm with immediate effect, previously spent 11 years as finance chief at fellow luxury carmaker Jaguar Land Rover. His appointment comes amidst [...]
Aston Martin to cut 500 jobs as business reset continues June 4, 2020 Luxury sports car maker Aston Martin has today announced it will cut 500 jobs as the iconic brand continues with its business-wide reset. The firm said the measures were being taken to bring its cost base in line with expected lower levels of car production. The cuts, which cover nearly a fifth of Aston Martin’s [...]
Major Aston Martin shareholder trims stake in iconic carmaker June 1, 2020 One of Aston Martin’s largest shareholders has trimmed its stake in the iconic British carmaker by five per cent, a regulatory filing showed today. Italian private equity firm Investindustrial Advisers disclosed a stake of 14.99 per cent, down from a previous stake of 19.92 per cent. The reason behind the decision to cut the stake [...]
Aston Martin’s chief executive ousted as part of management shake-up May 24, 2020 Aston Martin chief executive Andy Palmer is reportedly set to be ousted from the role as part of a management shake-up. The luxury carmaker confirmed it is reviewing its management team. It will name Mercedes-AMG chief executive Tobias Moers as Palmer’s replacement in an announcement tomorrow, the Financial Times reported. Palmer had not been informed [...]
New Aston Martin boss focused on restarting production April 20, 2020 Aston Martin’s new chairman Lawrence Stroll has said that his priority is to restart the firm’s manufacturing operations as he takes over the company in the midst of the coronavirus crisis. The Canadian billionaire, who agreed in January to take a 20 per cent stake in the luxury car maker, said he was taking charge [...]
Aston Martin furloughs workers as production suspended March 30, 2020 UK sports car-maker Aston Martin said today it would furlough some of its workers after the coronavirus crisis forced it to close factories. Under the government scheme employers can claim for 80 per cent of wage costs of up to £2,500 for staff they place on leave. The company suspended production at its Gaydon and [...]
Aston Martin finance chief quits as firm falls to £100m loss February 27, 2020 Aston Martin fell to a loss of over £100m today as the luxury carmaker announced it would use 2020 to “reset” the business in order to compete in the supercar market. The firm said that the release of the new DBX and Valkyrie models, which are scheduled for the summer, would be critical to fulfilling [...]